Hotel-Motel
Red Roof Inn Chicago - Alsip
12340 S Cicero Ave, Alsip, IL 60803
Listing Price: $5,200,000
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Red Roof Inn Chicago Alsip (‘Hotel’ or ‘Property’) located in Alsip, Illinois. The Choice Hotels-branded Hotel is offered at $5,200,000 or $86,667 per key.
The Red Roof Inn Chicago Alsip is a 60-room, two-story Hotel stationed at 12340 S Cicero Avenue in Alsip, Illinois, just off Interstate 294. Various common area amenities at the Property include a laundry facility and ample parking for buses or trucks.
Alsip is a welcoming destination for travelers and residents alike. For business travelers, the village offers convenient accommodations and access to corporate centers, making it ideal for professional events. Its proximity to Midway International Airport and major highways ensures easy travel. Tourists can use Alsip as a base to explore Chicago's attractions, including Millennium Park and Navy Pier. Sports enthusiasts find it convenient for attending games at stadiums like Soldier Field. Alsip also provides access to family-friendly spots like Brookfield Zoo and Hollywood Casino Amphitheatre. Beyond its strategic location, Alsip offers a tranquil suburban environment. Nature lovers can enjoy Alsip Park District's scenic trails, while diverse dining options cater to various tastes. Sports complexes and nearby golf courses provide outdoor activities, enhancing the village's appeal. With its blend of outdoor recreation, community events, diverse dining, and city access, Alsip delivers a well-rounded living experience and a relaxing stay for travelers.
In the trailing twelve-month period ending in August 2023, the limited-service Hotel recorded room revenues of over $1.4 million and a net operating income just over $444,500, or 32 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. As of September, twelve-month average RevPAR in the Chicago South hotel submarket was climbing at an annual rate of 4.9 percent. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.
Red Roof Inn Chicago - Alsip
Investment Highlights
- Two-Story, 60-Room, Red Roof-Branded Hotel
- Positioned within the Chicago Metropolitan Area
- Ideal Location off Interstate 294 Offering Easy Access to Major Demand Generators Including Trinity College, Northwestern Medicine Palos Hospital, Chicago Midway Airport and Many More
- Downtown Chicago is Located 24.5 Miles Away
- Absentee Owned; a New Owner-Operator can See Potential Upside through a Reduction in Hotel Operational Expenses
- Offered Fee Simple and Unencumbered by Management Contracts or Existing Debt
Listing Price: $5,200,000
Investment Highlights
- Two-Story, 60-Room, Red Roof-Branded Hotel
- Positioned within the Chicago Metropolitan Area
- Ideal Location off Interstate 294 Offering Easy Access to Major Demand Generators Including Trinity College, Northwestern Medicine Palos Hospital, Chicago Midway Airport and Many More
- Downtown Chicago is Located 24.5 Miles Away
- Absentee Owned; a New Owner-Operator can See Potential Upside through a Reduction in Hotel Operational Expenses
- Offered Fee Simple and Unencumbered by Management Contracts or Existing Debt
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Red Roof Inn Chicago Alsip (‘Hotel’ or ‘Property’) located in Alsip, Illinois. The Choice Hotels-branded Hotel is offered at $5,200,000 or $86,667 per key. The Red Roof Inn Chicago Alsip is a 60-room, two-story Hotel stationed at 12340 S Cicero Avenue in Alsip, Illinois, just off Interstate 294. Various common area amenities at the Property include a laundry facility and ample parking for buses or trucks. Alsip is a welcoming destination for travelers and residents alike. For business travelers, the village offers convenient accommodations and access to corporate centers, making it ideal for professional events. Its proximity to Midway International Airport and major highways ensures easy travel. Tourists can use Alsip as a base to explore Chicago's attractions, including Millennium Park and Navy Pier. Sports enthusiasts find it convenient for attending games at stadiums like Soldier Field. Alsip also provides access to family-friendly spots like Brookfield Zoo and Hollywood Casino Amphitheatre. Beyond its strategic location, Alsip offers a tranquil suburban environment. Nature lovers can enjoy Alsip Park District's scenic trails, while diverse dining options cater to various tastes. Sports complexes and nearby golf courses provide outdoor activities, enhancing the village's appeal. With its blend of outdoor recreation, community events, diverse dining, and city access, Alsip delivers a well-rounded living experience and a relaxing stay for travelers. In the trailing twelve-month period ending in August 2023, the limited-service Hotel recorded room revenues of over $1.4 million and a net operating income just over $444,500, or 32 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. As of September, twelve-month average RevPAR in the Chicago South hotel submarket was climbing at an annual rate of 4.9 percent. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.
