Southeast Missouri Business NEWS & VIEWS...
DOWNTOWN HOTEL
SAVED BY OFFICE DEVELOPER...
Broadway & Fountain Streets - Cape Girardeau
The Marquette Hotel on Broadway in downtown Cape Girardeau (shown above in it's heyday was just one step away from the wrecking ball. City officials had announced they will be proceeding to the next step of demolition if there is no action with the dangerous and deteriorating building. Prost Builders who won the successful state office building contract entered the picture and will restore the hotel into a multi-tenant office building according to company officials.
Both city officials and the owner, Ruby Bullock were hoping for a possible sale of the historic six story building with Spanish influenced architecture. The owner has had prospects over the past several years, but lack of financing has kept any of the deals from closing. According to Bullock put the real estate sold for $350,000.
Prost, who has other contracts with the State of Missouri captured the bid after the Governor put priorities for State Buildings in historic areas of Missouri cities.
Ironically, it was announced recently that the property had been submitted to gain a spot on the national register of historical places. According to state and national officials the 73 year old structure is sure to gain a place on the list yet they agree the status would not prevent the demolition of it.
The hotel, one of Southeast Missouri's finest of it's time was built in 1928 and has been vacant since the early '80's. The owner operated the hotel and restaurant until 1971, at which time the health department closed it because of safety concerns. A piano store on the ground level continued to operate until 1981. It was owned by Thad Bullock from 1969 until his death in 1999.
Initial plans are to have the building ready within 12 months of so.
To Contact Tom Kelsey: tom@tomkelsey.com
News Page Who Is Tom Kelsey? Recent Sales & Leases
Home Available Property Contact Info Links Free Booklet