The ever-popular New Orleans style. Gone now. News-Gazette back in 2011: "First it was a Holiday Inn in the early 1960s, followed by Howard Johnson's, Premier Inn and most recently 1505 N. Neil Street in Champaign was Gateway Studios, a place where low-income residents could rent rooms."
The original owner's heirs inherited the property. The city eventually shut off the utilties for nonpayment. Taxes were due. It needed a fire-alarm system.
Back of the card: "Restaurant and glamorous Holiday Lounge."
The article also says it was cited for trash and debris.