The Riverview Motel consists of 15 units, and a 2nd floor owner's unit.
I can't quite recall when it was initially built but I think it was in the 1970's or so.
I believe it was closed before Covid for renovations, and I am guessing the expenses are running far too high as little or no progress has been made there for a long time. Most everything is currently boarded up, but there always is one vehicle in the parking lot (owner's car?).
If someone attempted to build this today I don't believe it would be allowed as it is likely is too close to the water, and the septic requirements are far more stringent today then they once were.
Fixed up, it could be worth a lot of money. Right now it isn't generating any income at all. The sad part is that if the units were fully restored the State "could" be interested in providing year 'round tenants (footing the bill to temporarily house those less fortunate). Housing is quite scarce now and many states are now renting motel rooms for folks in assistance programs.
My advice would be to contact the Alton Building Inspector to get the inside information on what is going on. For all I know maybe a STOP WORK order has been issued for some type of violation(s).......
A lot of this is speculation so I would advise anyone to do their due diligence if they are thinking of making an offer to purchase it.
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