COEUR d’ALENE — A new innovation and entrepreneurial center is one step closer to reality in downtown Coeur d’Alene.

Nick Smoot, co-founder of the Innovation Collective, has made a successful offer to purchase the old Elks Athletic Center between Fourth and Fifth streets on Lakeside Avenue.

“They have accepted our offer and it’s in escrow as we speak,” Smoot said in an interview Thursday. “We are scheduled to close on it on April 4.”

Smoot, along with two partners, plan to renovate the building to include executive offices, a cafe, coworking spaces, anchor technology tenants, event spaces and a leadership club.

“When someone is ready to swing for the fences and start a tech company, this is where,” Smoot said, as he toured the business with a group of friends on Thursday.

He said the building will be a mix of private offices and public spaces, where they will hold fireside chats next to an enormous fireplace that will burn logs up to 5 feet long.

Smoot said he can envision showing indie films in the public space and possibly adding a cigar room as well.

All of that, however, is still in the planning stages. Smoot said he and his partners have completed their due diligence stage, and they are now actively planning the layout of the building.

“We have some people in construction coming down to take a look at it,” Smoot said, adding there are no solid timelines for completion at this stage.

Smoot said many of those details will be worked out soon.