TOPEKA (KSNT) – An online auction for Hotel Topeka begins next week and shows the bidding to start at $2 million.
The City of Topeka announced the hotel was going up for auction and that it intends to bid. The governing body voted to allow the city to make an offer.
The auction will begin on June 5 through an online commercial real estate exchange company named Ten-X. The website indicates the auction will last from the 5th to the 7th and bidding starts at $2 million. Hotel Topeka, formerly the Capitol Plaza Hotel, has been under court-appointed receivership since June 2021, according to the website.
The auction website highlights Hotel Topeka’s amenities, distance to downtown and the Kansas Statehouse along with a positive housing market. The building’s appraised value, however, decreased dramatically from 2022 to 2023, according to the Shawnee County Appraiser’s Website.