The building has remained vacant since 2019 with no interior updates. Despite its past, the owner hopes someone will see the potential.
TOLEDO, OH — A former Toledo gem is ready for a new owner. The historic Hotel Lorraine Auctioned on May 5th With a reservation price of $500,000.
apart from its troubled pastthe owner hopes someone will see the potential.
The building was closed by court order in October 2019. Since then nothing has been done to update the internals. But as city leaders continue to push forward with downtown revitalization projects, hotel advisers believe Hotel Lorraine is ready for a new life.
The historic Hotel Lorraine opened on April 15, 1925 on Jefferson Avenue on 12th Avenue.
“This hotel was one of the best we have been to before the 1960s,” said Rami Sebai, Associate Advisor, SVN-Ascension Commercial Realty.
But much has changed since that time, and another is on the horizon.
“Ultimately, the goal here is to get this property into the hands of skilled developers who are looking to revitalize it and add value to our city,” said Sebhai.
The momentum, growth and revitalization of downtown Toledo has made the building marketable, said Bill Menish, an auctioneer and SVN-Ascension Commercial Realty broker.
“This thing has been through its highs and lows,” said Menisch. “It’s definitely not the best right now, but that’s the beauty. We can rejuvenate it. New visions, new dreams. Good for the future.”
I hope the future of Hotel Lorraine is brighter than the past.
The current owner is not related to the previous owner. sentenced for fraud and Crimes they openly admitted to WTOL 11 that they had committed.
Advisors hope the new owners see the potential.
“I think this place is a hidden gem. It’s the gateway to the Uptown neighborhood. This corridor will continue to be revitalized, especially with the $30 million Bitwise Toledo redevelopment project,” Sebhai said. , talked about investing in technology companies.
The hotel is also just 800 meters (0.5 miles) from the new Glass City Centre.
The possibilities are endless, Menish said.
“I think this is a boutique hotel and I really want to embrace that history and bring it back to life. When people walk into this hotel, they kind of go back in time,” said Menisch. I got
There is an open house for interested buyers on Thursdays from 2pm to 4pm.
Hotel Lorraine, a former jewel of Toledo
https://www.wtol.com/article/news/local/hotel-lorraine-auction-current-look-inside/512-6c7b4fb7-5dc4-46e6-b426-098294e3b1a3 Inside the historic Hotel Lorraine before the auction