Press Releases
Marcus & Millichap Auctions Former Hotel with Full Athletic Complex in Palatine, Illinois
January 08, 2026
PALATINE, Ill., Jan. 8, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1500 E. Dundee Road, a former hotel and athletic complex in Palatine, Illinois.
“By leveraging our partnership with Marcus & Millichap’s auction team, we were able to generate competitive interest and identify a qualified, motivated buyer,” said Ebrahim Valliani, managing director investments. “We secured a strong, preemptive offer prior to the auction, closed in under 30 days, and negotiated non-refundable earnest money, demonstrating both the efficiency of our process and the depth of our investor network.”
Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor group. Valliani collaborated with Derek Schuster of Marcus & Millichap’s Auction Services to market the asset and secure the buyer. The transaction received additional support from Michael Klar, Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The property spans 6.11 acres and includes a six-story, 181-room hotel and a 60,000-square-foot athletic complex. Originally built in 1980, the hotel features a lobby, breakfast room, pantry kitchen and laundry facilities, while the athletic complex includes a fieldhouse, health club, racquetball courts, indoor pool and 10,800 square feet of meeting and event space with direct access to the hotel tower. Located at the corner of Illinois Route 53 and Dundee Road, the site offers direct access to Interstate 90, O’Hare International Airport and downtown Chicago. It is also a seven-minute drive from the potential future Chicago Bears stadium.
“By leveraging our partnership with Marcus & Millichap’s auction team, we were able to generate competitive interest and identify a qualified, motivated buyer,” said Ebrahim Valliani, managing director investments. “We secured a strong, preemptive offer prior to the auction, closed in under 30 days, and negotiated non-refundable earnest money, demonstrating both the efficiency of our process and the depth of our investor network.”
Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor group. Valliani collaborated with Derek Schuster of Marcus & Millichap’s Auction Services to market the asset and secure the buyer. The transaction received additional support from Michael Klar, Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The property spans 6.11 acres and includes a six-story, 181-room hotel and a 60,000-square-foot athletic complex. Originally built in 1980, the hotel features a lobby, breakfast room, pantry kitchen and laundry facilities, while the athletic complex includes a fieldhouse, health club, racquetball courts, indoor pool and 10,800 square feet of meeting and event space with direct access to the hotel tower. Located at the corner of Illinois Route 53 and Dundee Road, the site offers direct access to Interstate 90, O’Hare International Airport and downtown Chicago. It is also a seven-minute drive from the potential future Chicago Bears stadium.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
