Landmark Duluth Hotel Has Surprisingly Been Listed For Sale

Whether you live in Duluth or have just spent time visiting, there are certain landmarks you count on seeing.

At the top of the list for many is the Aerial Lift Bridge, followed in no particular order by Enger Tower, Lake Superior, the Lakewalk, etc.

Another landmark you'll find in Duluth is the Radisson Hotel, which was built in 1970 at 505 W. Superior Street. Of course, what makes this sixteen-story hotel stand out is its unique circular design and the rotating restaurant that is at the top of the building.

While one would assume that landmark isn't going anywhere, it does look like it will have new owners as Radisson has officially been listed for sale.

Radisson Hotel Duluth-Harborview Hits The Market

According to its listing page, Marcus & Millichap Radisson is serving as the Exclusive Broker and Advisor for the marketing effort of the Radisson Hotel Duluth-Harborview Hotel.

The listing points out that the property has historically and consistently produced strong room revenue figures above $5,000,000, there's the potential for even greater revenue.

With popular annual Duluth events such as the Bentleyville "Tour of Lights," which draws over 300,000 visitors annually, the Duluth Airshow, Grandma's Marathon, and more, tourism remains strong in the area.

Marcus & Millichap's investment highlights for the property include:

• Iconic Sixteen-Story, 196 Room, Full-Service Hotel with Six Flexible Meeting Rooms/Event Spaces Totaling Nearly 9,000 Square Feet.
• Robust Tourism, with 3 Million Visitors Annually
• Extensive Guest Amenities Including a Heated Indoor Pool, Hot Tub, Sauna, and a Business Center

The listing notes that the seller has already begun the process of applying for historic tax credits, which could offer significant financial benefits and incentives to a new owner if they decide to undergo an "extensive renovation and/or possible rebranding and repositioning."

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The property conveniently connects to Duluth's Skywalk System, allowing guests easy access to waterfront attractions, shopping, restaurants, and cultural landmarks.

The Radisson Hotel Duluth-Harborview Hotel features a rotating 16th-floor restaurant, which is certainly a unique experience that offers amazing views of Duluth.

Marcus & Millichap notes that in March of 2013, $3 million was spent on extensive repairs and restoration of its building operating systems.

The listing also states that there is an adjacent building that is not included in the listing. The current owner is retaining ownership of that building with plans to repurpose it for use outside of the hospitality industry.

The Radisson Hotel Duluth-Harborview is on the market now for $15,800,000. Are you ready to make an offer and become a hotel baron?

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