The infamous Cecil Hotel will be demolished after two studies have determined that the 100-plus-year-old building is beyond repair.

The Calgary Municipal Land Corporation, which owns the site, announced today it didn't make sense to salvage the building. But its neon sign, and possibly other architectural elements, will be saved and restored.

"We are fully aware that some Calgarians were hoping the Cecil could somehow be saved, as it's one of only six pre-First World War hotels still standing in Calgary," said Michael Brown, CMLC's President & CEO in a release. "But following decades of neglect plus the ravages of fire and flood, rehabilitation and restoration simply aren't feasible options."

Calgary's century old Cecil Hotel is set for demolition, but its neon sign was salvaged.

The structure at Fourth Avenue and Third Street S.E., built in 1912, had a notorious past. Prior to closing in 2008 it had become a magnet for crime, prostitution and drugs.

The latest heritage assessment found that "very little of the building is intact and in good enough condition to save in its entirety."

In 1982 a fire wiped out much of its historical value. Flood waters from June 2013 ruined the structure, plus mould and water continue to plague the building.

According to the report, the Cecil's only salvageable elements include the building's neon sign, tin roof cornice, north and west masonry facade, and a number of cast-iron radiators, bathtubs and sinks.

The sign will be removed on Friday at 10:30 a.m. The demolition date for the Cecil has not been set.

The 43,000 square foot parcel of land where the hotel sits, will be part of the master plan for the East Village multi-use project.