Landmark Hotel Sold at Auction

[UPDATE -12/12/2018: In long lost news that I apparently missed after the midterm elections and any related comatose states, the Landmark Hotel deal fell through and there doesn't appear to be any serious plan B yet. Reporting on that here and a News-Gazette editorial explaining the uncertain future here.]

The long dilapidated Landmark Hotel next to Urbana's Lincoln Square Mall has finally been sold, but it's future remains unknown as everyone in the area seems to hope that any chance at a brighter future is a positive step. Details about the developer who purchased the property here at the News-Gazette:

Las Vegas developer is winning bidder for Urbana's Landmark Hotel
A Las Vegas-based real-estate developer is the new owner-to-be of the shuttered Landmark Hotel in Urbana.

Mayor Diane Marlin said Friday that the hotel auction broker informed the city that the winning $1.3 million bid was submitted by JWM Ventures LLC of Las Vegas. Marlin said the buyer has not contacted the city, and she doesn’t know what its plans are for the downtown facility.

Marlin also said that JWM is not one of the groups that met with the city before this week’s auction.

“We continue to expect a high-quality, vibrant project at this site,” Marlin said.

More details at the full article here. There was a background article leading into the auction here with some more details on the history of previous sale attempts. The News-Gazette's editorial board weighed in with conservative admonishment of Urbana's liberal ways in the whole situation today as well.