Skip to main content

Hotel-Motel

Holiday Inn Express & Suites Zion

1100 33rd St, Zion, IL 60099

Listing Price: $7,590,000

Cap Rate
9.99%
Number of Rooms
69
RevPAR
$84
Price/Room
$110,000
RRM
3.59
Year Built
2005

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Holiday Inn Express & Suites Zion (‘Hotel’ or ‘Property’) located in Zion, Illinois. The IHG-branded Hotel is offered at $7,590,000 or $110,000 per key.

The Holiday Inn Express & Suites Zion is a 69-room, three-story Hotel stationed at 1100 33rd Street in Zion, Illinois, just 3.5 miles from Waukegan National Airport and mile from Illinois Beach State Park. Various common area amenities at the Property include an indoor pool, fitness center, meeting room, breakfast area, and a business center.

Zion, IL is located between Chicago and Milwaukee, offering an impressive range of activities for diverse interests. Nature lovers can immerse themselves in the tranquility of Illinois Beach State Park and Zion City Beach along Lake Michigan's shore. History enthusiasts can explore the Shiloh House Museum and soak in the charm of the Shiloh Park Historic District. Golfers can tee off at the picturesque Shepherd's Crook Golf Course, and antique aficionados can uncover treasures at the Zion Antique Mall. Delving into local ecosystems is possible at the Zion Nature Center, while the town's culinary scene and the Zion-Benton Public Library add cultural dimensions. Hotels nearby cater to extended stays, providing convenient access to the beach, attractions, and local events, making Zion a versatile destination ideal for both leisurely getaways and adventurous outings.

In 2024, the limited-service Hotel is expected to record room revenues of over $1.9 million and a net operating income just over $709,000, or 34.3 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee. As of October, twelve-month average RevPAR in the Lake County hotel submarket was up 9.4 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.

Investment Highlights

  • Three-Story, 69-Room, IHG-Branded Hotel
  • Opened November 15, 2023, as a Fully Renovated/Converted Holiday Inn Express & Suites
  • Offered Well Below Replacement Cost at $110,000 Per Key and with Long-Term IHG License
  • Located in Lake County, with Substantially Lower Property Taxes than Neighboring Cook County
  • Proximity to O'Hare International Airport (39 Miles), Milwaukee (50 Miles), and Downtown Chicago (47 Miles)
  • Situated 10 Miles from Six Flags Great America, Hurricane Harbor Chicago, Great Wolf Lodge | Illinois, and Gurnee Mills Shopping Mall
  • Twelve-Month RevPAR for Lake County Area Hotel Submarket Up 9.4 Percent
  • Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt

Exclusively Listed By

Financing By

Hotel-Motel

Holiday Inn Express & Suites Zion

Listing Price: $7,590,000

Cap Rate
9.99%
Number of Rooms
69
RevPAR
$84
Price/Room
$110,000
RRM
3.59
Year Built
2005

Investment Highlights

  • Three-Story, 69-Room, IHG-Branded Hotel
  • Opened November 15, 2023, as a Fully Renovated/Converted Holiday Inn Express & Suites
  • Offered Well Below Replacement Cost at $110,000 Per Key and with Long-Term IHG License
  • Located in Lake County, with Substantially Lower Property Taxes than Neighboring Cook County
  • Proximity to O'Hare International Airport (39 Miles), Milwaukee (50 Miles), and Downtown Chicago (47 Miles)
  • Situated 10 Miles from Six Flags Great America, Hurricane Harbor Chicago, Great Wolf Lodge | Illinois, and Gurnee Mills Shopping Mall
  • Twelve-Month RevPAR for Lake County Area Hotel Submarket Up 9.4 Percent
  • Offered Fee-Simple, 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 Holiday Inn Express & Suites Zion (‘Hotel’ or ‘Property’) located in Zion, Illinois. The IHG-branded Hotel is offered at $7,590,000 or $110,000 per key. The Holiday Inn Express & Suites Zion is a 69-room, three-story Hotel stationed at 1100 33rd Street in Zion, Illinois, just 3.5 miles from Waukegan National Airport and mile from Illinois Beach State Park. Various common area amenities at the Property include an indoor pool, fitness center, meeting room, breakfast area, and a business center. Zion, IL is located between Chicago and Milwaukee, offering an impressive range of activities for diverse interests. Nature lovers can immerse themselves in the tranquility of Illinois Beach State Park and Zion City Beach along Lake Michigan's shore. History enthusiasts can explore the Shiloh House Museum and soak in the charm of the Shiloh Park Historic District. Golfers can tee off at the picturesque Shepherd's Crook Golf Course, and antique aficionados can uncover treasures at the Zion Antique Mall. Delving into local ecosystems is possible at the Zion Nature Center, while the town's culinary scene and the Zion-Benton Public Library add cultural dimensions. Hotels nearby cater to extended stays, providing convenient access to the beach, attractions, and local events, making Zion a versatile destination ideal for both leisurely getaways and adventurous outings. In 2024, the limited-service Hotel is expected to record room revenues of over $1.9 million and a net operating income just over $709,000, or 34.3 percent as a percentage of total revenues, after a 4 percent capital replacement reserve and 3 percent management fee. As of October, twelve-month average RevPAR in the Lake County hotel submarket was up 9.4 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.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower