Revitalize a CBD Landmark Multifamily Tower 222 E Elm St 94 Lots d’appartement Immeuble residentiel Vente aux enchères en ligne Wichita, KS 67214

Embrace Wichita’s past and help shape its future with this rare opportunity to acquire the historic Commodore Apartments at 222 E Elm Street. Currently non-operational, this rare offer invites investors to revitalize a landmark building in the city’s Central Business District and benefit from strong area demand for quality residential units.

Stretching nine stories above the corner of N Broadway Avenue and E Elm Street, The Commodore includes a total of 47,752 square feet and 103 apartments. Its brick Georgian Architecture and prominent rooftop signage are fixtures of the Wichita skyline. Originally built in 1929, the building has preserved many of its original features, including wood windows, terra cotta details, and an opulent lobby adorned with beamed ceilings, wrought-iron railings, and original light fixtures. Parking is available on-site, with an adjacent surface lot providing spaces for 40 vehicles.

Currently, the building is closed due to freezing, which caused cracking in the drain lines. The current owner has renovations well underway, with brand new water lines and electrical service, baseboard heating installed in the units on the first two floors, and repairs to the brick façade completed. A new owner will have the value-add upside to repair the cracked drain lines, introduce baseboard heating for floors three through eight, replace the service and passenger elevators, and renovate approximately 50 of the apartment units.

A prime location in Downtown Wichita positions The Commodore within minutes of the city’s most popular demand drivers. It sits just 3 miles from Wichita State University and is within 1 mile of Central Riverside Park, the Intrust Bank Area, and the Century II Performing Arts and Convention Center. Additionally, the Ascension Via Christi St. Francis Medical Center is just blocks away. The location also appeals to the area’s large commuter population, sitting within 15 minutes of Wichita’s largest employers, including Spirit AeroSystems, Koch Industries, and Textron Aviation. Simplified connections to the greater region are made easy thanks to the property’s convenient proximity to Interstate 135 and US Highway 400.

Supporting multifamily investment in downtown Wichita, the city offers a compelling job and population growth when looking within 2 miles of The Commodore. The area is home to more than 48,000 residents, a number that has grown by more than 13% since 2020. More than 54% of these residents rent their home, and consumer spending in the area surpassed $438 million during 2024. The area’s rapid recent growth has boosted local multifamily performance, with vacancies of just 6.7% and year-over-year rent growth of 2.1%, outpacing the national index of 0.9%.

Embrace success with this incredible opportunity to bring a Downtown Wichita landmark to its full potential at 222 E Elm Street, The Commodore.

Property tours are by appointment only. Please contact the listing broker to schedule.