Boyle Building Listed for Nearly $6M

The Boyle Building at Capitol and Main streets in downtown Little Rock.

The Chi Hotel Group of Little Rock has listed for sale the Boyle Building at the intersection of Capitol Avenue and Main Street in downtown Little Rock.

The group is seeking $5.995 million for the building and is selling it through Stuart Mackey with the Hathaway Group of Little Rock.

Mackey said he couldn’t offer any insight as to why the owners are selling the property they bought for $4.5 million in 2014. The ownership group, led by Jacob and Jasen Chi, once had plans to redevelop the 12-story office building into a hotel.

Jacob Chi did not return a call from Arkansas Business. The group also considered turning the building into apartments.

But the project languished amid the stalled redevelopment of the adjoining M.M. Cohn Building, which sold for $2.1 million in June 2017 to Deep Creek LR LLC after contracting firm AMR Construction LLC of Little Rock successfully sued redeveloper Scott Reed of Portland, Oregon, over not being paid for its work.

Mackey also declined to disclose who he is marketing the Boyle Building to, but, he said, “The ownership feels this is a great building and has great potential, and they’re looking forward to its great future.”