The Star Beacon; Ashtabula, Ohio

Local News

May 10, 2014

‘Sold’ sign slapped on historic Conneaut hotel

CONNEAUT — Has the Cleveland Hotel finally found a buyer?

A ‘sold’ sign has appeared on the front of the historic building in downtown Conneaut, but information on the would-be buyer is hard to come by. The building is listed with Nova Star Real Estate, but calls to business representatives were not immediately returned Friday.

The Ashtabula County auditor’s website still lists the owner as CCI Funding, which is a subsidiary of Commercial Capital Inc. CCI acquired the three-story brick building at a sheriff’s sale two years ago for $220,000, according to the website.

City Manager Tim Eggleston on Friday said he was aware of the ‘sold’ sign but had no knowledge of any transaction.

The Cleveland Hotel has sat at the corner of State Street and Cleveland Court since the start of the 20th century. In its heyday, the hotel was considered one of the finest between New York and Chicago and its guests included luminaries like Henry Ford. As the decades passed, however, the hotel lost its luster and fell into disrepair.

A rebirth began in 2005, when Lighthouse Historical Development bought the building and spent $2.3 million to convert hotel rooms into 29 condominiums. The units didn’t sell, however, and Lighthouse went bankrupt.

The only occupant is Snap Fitness, which has occupied a ground floor storefront since 2007.

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