Hilco Real Estate, LLC Announces Bankruptcy Sale of Landmark Hotel in Downtown Springfield, Illinois

NORTHBROOK, Ill., July 30, 2026 /PRNewswire/ -- Hilco Real Estate, LLC, a practice of Hilco Global--a diversified financial services company that delivers expert professional services and capital solutions to help clients maximize value and drive performance across the business lifecycle, announces September 15 as the bid deadline of the bankruptcy sale of the former Wyndham City Centre, a landmark, full-service hotel located at 700 E. Adams Street in the heart of downtown Springfield, Illinois.

The property spans an entire city block and is improved with a prominent 31-story hotel tower totaling 374,200± SF, making it one of the largest hospitality assets in the Springfield market. Originally constructed in 1972, the hotel features 369 guestrooms and 27 apartments, an extensive amenity package including a restaurant, lounge, café, indoor pool, fitness center and business center, as well as adjacent structured parking. A rooftop communications lease generates monthly revenue of $12,000+, available separately from the real estate.

The property's approximately 50,000± SF of meeting, banquet and event space position the asset to accommodate conventions, government functions, corporate meetings, association events, weddings and other social gatherings. This combination of extensive guest accommodations and large-scale event facilities creates a compelling opportunity for hospitality investors, owner-operators and redevelopment groups.

"The former Wyndham City Centre represents one of the most visible buildings to come to market in Central Illinois in recent years," said Jamie Coté, senior director at Hilco Global. "Its scale, downtown location and established convention infrastructure provide a strong foundation for buyers seeking to reposition, redevelop or restore an iconic hotel asset or redevelop the city block into something else entirely.  Between the revenue from parking and the communications antennas, retail and restaurant space, 50,000 SF+ of meeting space and a combination of multifamily and hospitality rooms, this offering truly gives developers many options."

Located adjacent to the Bank of Springfield Center, the property benefits from a diverse demand base generated by government, convention and tourism activity. The hotel is within walking distance of the Illinois State Capitol, numerous state government offices, the Abraham Lincoln Presidential Library & Museum, Lincoln Home National Historic Site and other major attractions that drive year-round visitation. Its central business district location, proximity to Amtrak and access to a wide variety of travelers support one of Central Illinois' most established hospitality markets.

The sale of this hotel is being conducted subject to approval by Order of the U.S. Bankruptcy Court for the Western District of Texas (San Antonio), Case No. 5:26-bk-50689, In re: Tower Capital Group, LP, with bids due on September 15 by 5:00 p.m. (CT). Bids must be submitted using the documents available for review and download on the Hilco Global Real Estate Sales website.

Interested bidders should review the requirements in order to participate in the bankruptcy sale process on the Hilco Global Real Estate Sales website.

For all inquiries and to request an on-site inspection, please contact:

• Jamie Coté | (847) 418-2187 | [email protected]

For additional details, due diligence access and terms of sale, visit Hilco Global Real Estate Sales website or call (855) 755-2300.

About Hilco Global
Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, and intellectual property sectors. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com. 

SOURCE Hilco Trading, LLC