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Oklahoma company acquires IL State Bank building

Oklahoma company acquires IL State Bank building

2 weeks, 5 days ago by Scott Hardy

Tanninger Companies plans to build a boutique hotel & restaurant

A company that's re-habbed the Elkton Hotel building has announced it's bought a second building in Quincy's District.

Tanninger Companies said Wednesday that it has acquired the Illinois State Bank building at 529 Hampshire. The company has owned the Elkton Hotel and the Patio Restaurant since March 2020. Tanninger Chief Executive Ryan Jude Tanner says in the statement that "the potential for this unique property is without limits." Tanninger plans to spend up to $10 million to renovate the property. Plans include a 32-room boutique hotel with a gym, outdoor pool and rooftop bar. There will also be a restaurant, conference rooms, and a possible cigar and whiskey lounge.

Tanninger says that designs for the 43,000 square foot property will start in the next few months, followed by demolition of the buildings' interiors. They anticipate opening by Christmas 2023.

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