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Hotel-Motel

Courtyard Champaign

1811 Moreland Blvd, Champaign, IL 61822

Listing Price: Request For Offer

Number of Rooms
78
RevPAR
$77
Year Built
1995

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap’s National Hospitality Division is pleased to present for sale to qualified investors the 138-room Two Property Marriott Portfolio (‘Hotels’, ‘Properties’ or ‘Portfolio’) including the Fairfield Inn & Suites Champaign and the Courtyard Champaign. Both Properties in this Portfolio have performed well and have produced strong revenues in recent years. Combined, these high-quality Properties have achieved an average room revenue upward of $1.4 million each year since 2019. The portfolio is ideally positioned in the market with all properties recording over 100 percent market penetration. Each Hotel’s property improvement plan would allow the property to increase ADR due to the high drive market. Positioned off Interstate 74 near Interstate 57, the portfolio is located strategically by many of the city’s businesses and attractions in Champaign, Illinois. Located in the hear of East Central Illinois, Champaign is intersected by Interstates 57, 72, and 74, putting Champaign County approximately two hours south of Chicago, Illinois; three hours northeast of St. Louis, Missouri; and two hours west of Indianapolis, Indiana. Home to the University of Illinois – Urbana-Champaign (UIUC), Parkland College, and 2 major regional hospitals (Carle Foundation Hospital and OSF Heart of Mary Medical Center), Champaign County is a leader in education, health care, government, high technology, and light industry. Parkland College provides an additional 18,000 students for the city during the year. Beyond the significance of the education industry to Champaign, agriculture comprises a significant portion of the local economy with a vast majority of Champaign County involved in agriculture. The city also benefits from the various Fortune 500 companies that have offices in the city, with some of the most notable being Abbott, Archer Daniels Midland, Caterpillar, John Deere, Dow Chemical Company, IBM, and State Farm. The fourth-largest employer in the city, Kraft Heinz maintains one of the largest pasta factories in North America less than 2 miles from the Hotels. Another layer to the diverse array of industries that support the local economy, five record labels are based in Champaign, including Polyvinyl Records (3.0 miles), Undertow Music Collective (3.8 miles), Parasol Records (4.1), Exile on Main Street (2.0 miles), and Nicodemus Booking Agency (2.0 miles). The aptly named Research Park, backed by UIUC, is home to many large technology and software companies including Riverbed Technology, Citrix Systems, Abbott Laboratories, Dow Innovation Center, and Yahoo! Inc. Additional tech companies in the area include AMD, Intel, IBM, Amdocs, Infobright, and Instarecon. Among these, the largest high technology employer is Wolfram Research, with more than 400 employees in Champaign. As more business travel picks up post-Covid, sports complex revenues in Champaign continue to increase as it also plays host to University of Illinois sporting events, and high school football, and wrestling state tournaments. Though not a chief economic contributor to the city, the United States Army Corps of Engineers maintains the Construction Engineering Research Laboratory (CERL) in Champaign. Additionally, the Champaign Park District hosts a variety of festivals, holiday celebrations and family-friendly events each year. Excellent local parks, youth sports programs and miles of walking and biking opportunities make Champaign a great place for families and individuals to have fun and stay healthy. Area lakes and rivers for boating, fishing, canoeing, camping and nature park areas for hiking all add to the community’s amenable cityscape. Lastly, shopping, dining, and entertaining venues are scattered throughout the city as Champaign boasts both an urban-downtown, campus town, a regional mall, and many neighborhood destinations. Marriott’s International Brand Affiliation provides the world’s largest travel loyalty program, Marriott Bonvoy. Marriott’s global platform has over 160 million users and helps drive top-line revenue and bottom-line cost savings. All Properties are encumbered by a Land Lease Agreement, Assets could be acquired as a portfolio or individually.

Investment Highlights

  • Building Attributes: The Marriott International-branded hotel is a three-story, 78-room, interior-corridor property built in 1995.
  • Prominent Market: The hotel is conveniently situated right off US Interstates 57, 72 & 74 intersect in the County which puts Champaign County approximately 2 hours south of Chicago Illinois; 3 hours n
  • Prime Location: Located along Interstate 74, the property is highly visible from the expressway. Champaign County, Illinois is located in the heart of East Central Illinois.
  • Nearby Airport: The University of Illinois Willard Airport- Champaign is located 10 miles away from the subject property.
  • Value-Add Opportunity: Currently institutionally owned and third-party managed, a new owner-operator can see potential upside through a reduction in hotel operational expenses and revenue upside by completing the change of ownership PIP.
  • On-Site Hotel Amenities: The hotel comes well-equipped with an indoor pool, fitness center, guest laundry facilities, restaurant, and meeting space.
  • Land Lease Agreement: The Property is encumbered by a Land Lease Agreement.
  • Diverse Demand Generators: Orpheum Children's Science Museum, Parkland College, University of Illinois, Carle Foundation Hospital, Kraft Heinz Headquarters, Wolfram Research, and Construction Engineering Research Laboratory (CERL).

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Hotel-Motel

Courtyard Champaign

Listing Price: Request For Offer

Number of Rooms
78
RevPAR
$77
Year Built
1995

Investment Highlights

  • Building Attributes: The Marriott International-branded hotel is a three-story, 78-room, interior-corridor property built in 1995.
  • Prominent Market: The hotel is conveniently situated right off US Interstates 57, 72 & 74 intersect in the County which puts Champaign County approximately 2 hours south of Chicago Illinois; 3 hours n
  • Prime Location: Located along Interstate 74, the property is highly visible from the expressway. Champaign County, Illinois is located in the heart of East Central Illinois.
  • Nearby Airport: The University of Illinois Willard Airport- Champaign is located 10 miles away from the subject property.
  • Value-Add Opportunity: Currently institutionally owned and third-party managed, a new owner-operator can see potential upside through a reduction in hotel operational expenses and revenue upside by completing the change of ownership PIP.
  • On-Site Hotel Amenities: The hotel comes well-equipped with an indoor pool, fitness center, guest laundry facilities, restaurant, and meeting space.
  • Land Lease Agreement: The Property is encumbered by a Land Lease Agreement.
  • Diverse Demand Generators: Orpheum Children's Science Museum, Parkland College, University of Illinois, Carle Foundation Hospital, Kraft Heinz Headquarters, Wolfram Research, and Construction Engineering Research Laboratory (CERL).

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap’s National Hospitality Division is pleased to present for sale to qualified investors the 138-room Two Property Marriott Portfolio (‘Hotels’, ‘Properties’ or ‘Portfolio’) including the Fairfield Inn & Suites Champaign and the Courtyard Champaign. Both Properties in this Portfolio have performed well and have produced strong revenues in recent years. Combined, these high-quality Properties have achieved an average room revenue upward of $1.4 million each year since 2019. The portfolio is ideally positioned in the market with all properties recording over 100 percent market penetration. Each Hotel’s property improvement plan would allow the property to increase ADR due to the high drive market. Positioned off Interstate 74 near Interstate 57, the portfolio is located strategically by many of the city’s businesses and attractions in Champaign, Illinois. Located in the hear of East Central Illinois, Champaign is intersected by Interstates 57, 72, and 74, putting Champaign County approximately two hours south of Chicago, Illinois; three hours northeast of St. Louis, Missouri; and two hours west of Indianapolis, Indiana. Home to the University of Illinois – Urbana-Champaign (UIUC), Parkland College, and 2 major regional hospitals (Carle Foundation Hospital and OSF Heart of Mary Medical Center), Champaign County is a leader in education, health care, government, high technology, and light industry. Parkland College provides an additional 18,000 students for the city during the year. Beyond the significance of the education industry to Champaign, agriculture comprises a significant portion of the local economy with a vast majority of Champaign County involved in agriculture. The city also benefits from the various Fortune 500 companies that have offices in the city, with some of the most notable being Abbott, Archer Daniels Midland, Caterpillar, John Deere, Dow Chemical Company, IBM, and State Farm. The fourth-largest employer in the city, Kraft Heinz maintains one of the largest pasta factories in North America less than 2 miles from the Hotels. Another layer to the diverse array of industries that support the local economy, five record labels are based in Champaign, including Polyvinyl Records (3.0 miles), Undertow Music Collective (3.8 miles), Parasol Records (4.1), Exile on Main Street (2.0 miles), and Nicodemus Booking Agency (2.0 miles). The aptly named Research Park, backed by UIUC, is home to many large technology and software companies including Riverbed Technology, Citrix Systems, Abbott Laboratories, Dow Innovation Center, and Yahoo! Inc. Additional tech companies in the area include AMD, Intel, IBM, Amdocs, Infobright, and Instarecon. Among these, the largest high technology employer is Wolfram Research, with more than 400 employees in Champaign. As more business travel picks up post-Covid, sports complex revenues in Champaign continue to increase as it also plays host to University of Illinois sporting events, and high school football, and wrestling state tournaments. Though not a chief economic contributor to the city, the United States Army Corps of Engineers maintains the Construction Engineering Research Laboratory (CERL) in Champaign. Additionally, the Champaign Park District hosts a variety of festivals, holiday celebrations and family-friendly events each year. Excellent local parks, youth sports programs and miles of walking and biking opportunities make Champaign a great place for families and individuals to have fun and stay healthy. Area lakes and rivers for boating, fishing, canoeing, camping and nature park areas for hiking all add to the community’s amenable cityscape. Lastly, shopping, dining, and entertaining venues are scattered throughout the city as Champaign boasts both an urban-downtown, campus town, a regional mall, and many neighborhood destinations. Marriott’s International Brand Affiliation provides the world’s largest travel loyalty program, Marriott Bonvoy. Marriott’s global platform has over 160 million users and helps drive top-line revenue and bottom-line cost savings. All Properties are encumbered by a Land Lease Agreement, Assets could be acquired as a portfolio or individually.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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