Colliers International says a buyer is "in contract" to buy the historic Ormsby House in Carson City. 

While the process is still in the early stages, inspections will happen sometime next week. The sale is expected to close just before the end of the year.

Colliers says the investors are from California who plan to develop and operate the property as a hotel/casino/convention space. 

The Ormsby House is located in the heart of Carson City, directly across from the Nevada State Legislative Building.

At over 190,000 square feet, the hotel tower features 110 rooms.

Earlier this year, Ted Stoever, Vice President of Development with Colliers International told us the large two-story casino floor could host a variety of design options.

"The casino building which we're standing in now is approximately 40% to 50% complete," says Stoever. "It's been designed to accommodate bars, restaurants, casino gaming and convention."

The original Ormsby house was built more than 150 years ago at 2nd and Carson Street. The one that exists today was built in the 1970's and now sits at the corner of 5th and Carson Street. Because of the building's history and popularity throughout northern Nevada, Stoever says he envisions a future of success for potential buyers.

“I think this is going to be a good example of people's desire to bring investment and new development to this area,” Stoever.

It’s not just the real estate agents who see promise in the iconic property. Nick Marano, the city manager of Carson City, says a flourishing Ormsby House could mean a great deal for Carson City’s economy.

“Not only does it fill an important need in terms of being able to provide convention and meeting space, but it will also be an important part of expanding the job base here in Carson City,” says Marano.