Summary
COLLINSVILLE, Ill. (AP) - The state of Illinois on Thursday wiped its hands of a Metro East hotel built with millions of dollars in unpaid state loans, selling the site for roughly one-sixth of the $32 million apparently owed on the site.
State Treasurer Alexi Giannoulias, whose office took ownership of the Holiday Inn here during a courthouse auction last October, said St. Louis-based Lodging Hospitality Management bought the 228-room hotel for $5.3 million - the highest of six bids.See the full content of this document
Extract
Illinois Sells Hotel for $5.3 Million
The state expects to get an additional $5.1 millio...
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