Representatives for the City of Urbana announced Tuesday that the historic Urbana Landmark Hotel has been purchased by the company Icon Hospitality with the promise of renovating the hotel and revitalizing the city’s downtown area.

According to Illini Public Media, the historic hotel first opened in 1923 and was characterized by its grand Tudor Revival design by local architect Joseph Royer.

The hotel had been attached to the Lincoln Square Mall since the 1960s, but declining business led to the owner putting it up for sale in 2015 and the hotel closing in 2016.

The city reached an agreement with developer Sam Spiritos and associates requiring a $15 million historic renovation of the hotel within the next two years.

Urbana Mayor Diane Wolf Marlin said in a statement the expansive renovation represents the biggest reinvestment in the property in over 35 years.

“This project is the first step in the transformation of the 16-acre Lincoln Square site,” Marlin said. 

In a press release, Spiritos was enthusiastic about the purchase and planned revitalization of the hotel.

“Icon Hospitality is excited to begin developing the Hilton Tapestry Urbana Landmark Hotel,” Spiritos said. “We aim to develop the hotel into the premier upscale hotel in the Urbana-Champaign area while maintaining its distinct historic elements. We hope that our full-service hotel will become an essential pillar of the community with our illustrious banquet space, unique restaurant/bar concepts and state of the art guest rooms.”

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