It used to be the "in" place to stay for visitors to Sioux City, hosting fundraisers and other community events.
Now after years of decline, a new owner plans to make the old downtown Hilton Hotel relevant again.
A $10.5 million deal has been struck to buy and renovate what's now known as the Sioux City Hotel.
Conor Acquisitions of Fort Myers, Florida has purchased the property for $4 million, and plans on adding $6.5 million in renovations and remodeling.
The city is also going to chip in: $1 million towards the renovations, as well as a tax rebate over a number of years.
Until the deal is sealed, the name of the nationally-recognized hotel chain isn't being released.
The deal is good news for the Sioux City Convention Center, which is attached to the hotel by a skywalk.
"It's very exciting because sometimes with a local name, they never know what they're going to get with that. Or they think that the convention center owns the hotel as well. So it's nice that there is that separation but we will be able to have that partnership and share that excitement moving forward," said Convention Center Sales Manager Jonalee Jackes.
Developers will be in town December 9th to discuss renovation details.
Final city approval is expected January 6th.
If all goes according to plan, the project is expected to be completed sometime next year.