New owner sought for historic Walnut Street Inn

Andy Faucett: Family wants to focus on Bambinos Cafe locations.

Five years after buying and updating the historic Walnut Street Inn, the current owners said they are ready to pass the torch.

Located on the corner of Walnut Street and John Q. Hammons Parkway, the structure once known as the McCann-Jewell House, was built in 1883. Keller Williams Local has listed the property for $899,000.

The bed-and-breakfast was purchased in April 2021 by Faucett & Bates Inc. – a family-run entity that owns the two Bambinos Cafe locations – for $675,000, according to past reporting by the Springfield Business Journal.

“We purchased the inn during the pandemic when we were concerned about being in the restaurant business. We thought it gives us an opportunity to diversify. We felt the property was a good investment,” said Andy Faucett, who owns the property along with brother Chuck Faucett and mother Mary Faucett.

He said the restaurant business fared better than expected during the pandemic, largely due to loyal customers, carry-out orders and catering.

Faucett said the family does not have a background in that type of hospitality and with the demand of the restaurants – and the possibility of expansion on the horizon – that needs to remain the focus. The restaurants employ 90 people.

“We really want to possibly look at opening another Bambinos in another market,” he said.

Pressed for details, Faucett said they may explore Lake of the Ozarks, Kansas City or northwest Arkansas, but it is early in the discussion.

“There’s been no rigor applied to that part of it yet,” he said. “We’re trying to get the concept to a point where if we wanted to expand, we would feel comfortable.”

He said Madalyn Faucett, granddaughter of Mary Faucett and Andy’s niece, served as managing partner of the inn. She continues, in a part-time capacity, but has accepted a full-time position elsewhere.

“We don’t have a family member that is operating the inn. That was part of the decision as well,” Andy Faucett said. “We are looking for another lead innkeeper.”

The owners are also looking for an individual or business to take over food service for the inn, especially if the contracted service included brunch on the weekends.

Faucett said the family still loves the inn and will continue to operate the property until an owner is found.

“We felt like it would do much better in the hands of someone who was focused primarily on the Walnut Street Inn,” he said. “Having said that, if it doesn’t sell, I think we are fine with that.”

Crystal Quade, executive director of the Downtown Springfield Association, said the property is a historic part of the fabric of the city.

“It’s sad to see it leave the Faucetts’ hands. They are fantastic business owners,” she said.

She said the association is interested in being a resource, and part of the conversation, with new owners looking to preserve the property. The inn is located on the edge of the Missouri State University campus.

“As we continue to grow downtown and with the university right there, having that historic bed-and-breakfast there is really important for everyone in the area,” she said.

The inn was founded by Gary and Nancy Brown in 1996. The Faucetts bought it from Gary, Paula and Catherine Blankenship in 2021 and made repairs, painted, completed a major kitchen remodel and updated many guest rooms.

“We really have worked to upgrade the property itself, try and make it more of a low maintenance operation, more along the lines of something like an Airbnb, while still having staff there to take care of guests,” he said. “I’ve enjoyed hosting events at the inn. I feel like there’s a lot of opportunity there as a venue.”

Faucett said the inn has hosted small weddings and a “pleasantly surprising” number of international travelers in Springfield as part of Route 66 travels.

According to the real estate listing, the property could continue as a bed-and-breakfast or be converted into a short-term rental or single-family residence.

He said additional updates to the property will be made while a search for the new owners continues.

“If it’s still on the market this time next year, I would not be surprised or alarmed,” he said. “It’s just we feel like we have a long-term plan and the inn probably isn’t part of that.”