1 Market Square goes up for sale

The building containing the Hotel St. Oliver, Shonos In City and Market Square Kitchen has gone up for sale. The asking price? $1.9 million.

The building was part of the Kendrick Estate, according to Real Estate Advisor Tim Duff with Coldwell Banker Commercial Wallace and Wallace.

It was built in 1876 as the original Kerns Bakery, then renovated as the Blakely House during the World's Fair.

Kendrick bought it in the mid-1990s and re-worked it into the Hotel St. Oliver, which operates as a boutique hotel to this day.

"We have approximately 25,900 square feet in the hotel.  We've got 4,800 square feet of retail," said Duff.

Duff has already heard from several interested buyers.

"Obviously, the building could be used as a boutique hotel.  But, we feel the best use would be apartments or downtown condos," Duff explained.

The hotel is owned by the seller and is not under a lease.  Shonos In City and Market Square Kitchen's lease runs out in one year, according to Duff.