$5M could be going price for Elevation Chandler

Elevation Chandler, the partly built hotel with a mortgage of $24 million, could realistically be sold for $5 million to $6 million, a top commercial broker says. Moreover, a buyer would need to tear it down because a market no longer exists for another big hotel, and the steel shell has probably deteriorated so much that it's no longer sturdy and safe. Brent Moser, executive vice president of Cassidy Turley BRE Commercial, said the 10.6-acre property at Price and Frye roads is worth whatever the land is worth, and that depends on its intended use.

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