BLOOMINGTON (HOI) - A Bloomington-based developer intends to "bring new life" to the site of one of the Twin-Cities' best known hotels, the developer's attorney told Heart of Illinois-ABC on Friday.
Adidev Developers, LLC, plans to buy the Chateau Hotel and Conference Center from a Florida-based fund, which acquired the former Jumer's Hotel on Bloomington's east side two years ago in a foreclosure proceeding.
The proposed sale came to light because the city council on Monday night is being asked to accept terms of a lease agreement for the conference center, which is owned by the city government. A new owner would have the option to buy the conference center from the city in 2026 or 2027 at a cost of $350,000, said the developer's attorney, Nicolas Nelson.
Nelson said his client has "pretty substantial plans" to "repurpose" the property, but details are not being released.
In addition to the foreclosure, the Chateau was hit hard by the pandemic's economic impact. The attached restaurant is closed.
Nelson expects the sale to go through soon after Monday's city council action.
The Chateau's Facebook page said the hotel has 180 guest rooms and conference space for up to 500 people.
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July 10, 2021 at 09:02AM
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Prospective buyer intends to 'bring new life' to Bloomington's Chateau - HOI ABC
"bring" - Google News
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