Historic Elgin Hotel & Parlour 1886

Hospitality for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30662585
Property Subtypes: Convention Center, Extended Stay, Hotel, Inn, Resort, Vacation Rental(s)
Number of Units: 12 Units
Building Size (RSF): 15,500 SF
Gross Building Area: See Agent
Gross Land Area: 24,035 SF
Sale Price: $2,105,000
Unit Price: $175,416.67 Per Unit
Ceiling: 12 ft.
Property Use Type: Investment, Business
Building Name: The Historic Elgin Hotel
Name of Establishment: The Historic Elgin Hotel
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 1/14/2022

Overview / Comments

BUSINESS NOW INCLUDED WITH PURCHASE AND $400,000 Operations Fund with purchase. Now Marketed with 12 themed suites many adjoining Parlors with some suites with multiple rooms. Built in 1886, Operated as a hotel with 42 sleeping rooms through the 1960's then abandoned and threatened with demolition. In the 1980's it was converted into apartments and added to the National Register of Historic Places. In 2006 Jim & Nancy Cloutier invested $1.9 Million to renovate the building, living on the third floor and running it as a Bed & Breakfast. Purchased in 2016 the current owners added fine dining to further pamper their guests and provide food services for their destination events. Last year a $200,000 renovation to the kitchen and dining space to emerge as Parlor 1886 will pamper you from cocktails to the main course. The Parlor 1886 is also available for lease for a gifted chef looking for a turnkey operation, with the hotel and surrounding communities providing consistent clientele. If your dream is to cater to corporate hunting and team building retreats with lots of special occasions and life events, this Flint Hills charmer is for you!


Finance Data Year 2021
Real Estate Taxes - Annual($) $0 (Annual)
Lender Name FREE & CLEAR
Loan Amount $0
Annual Debt Service $0 (Annual)

Additional Details

Nearest MSA: Wichita
County: Marion
Submarket Type: Historic District
Taxing Authority: Marion
Tax ID/APN: 0571193203039001000
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Walton and Peabody in the Flint Hills of Kansas
Property Visibility: Excellent
Largest Nearby Street: 3rd street is the Marion turn off of Hwy 50, Just past Main St
Highway Access: Hwy 50 to Peabody from Newton Turn Left at old Hwy77/Sunflower Road to Marion
Airports: Dwight D Eisenhower Airport & Jabara or Benton for Private Planes
Site Description: The Southwest Corner of 3rd and Sante Fe just 1 block North of Main street in Marion, KS.
Area Description: Just 60 Miles from Wichita and about 30 Miles from Newton, KS in the Flint Hills
Nearby Attractions: Hunting, fishing, Waterfall tours
Total Number of Buildings: 2
Number of Stories: 3
Property Condition: Good
Year Built: 1886
Year Renovated: 2006
Roof Type: Flat
Construction/Siding: Stone
Exterior Description: Full Stone Facade with Roof Crown with Corbels and Victorian 3 color painted trim
Parking Type: Surface
Parking Description: Street Parking along the frontage and side streets, additional lot in the back is not owned but amiable use for large parties.
Passenger Elevators: 1
Sprinklers: None
Laundry: Shared
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Stunning and a trip back into a simpler but opulent time....
Zoning Description: Zoned for current use
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Easements Description: None hindering the operations of the Hotel or Parlour 1886
Land Ownership: Fee Simple
Legal Description: Lots 61-63, Millers 1st Addn.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 761 1,546
Median Age: 49.11 47.36
Households: 391 718
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