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 Prospect Heights, an IHG Hotel ('Hotel' or 'Property') located in Prospect Heights, Illinois. The IHG Hotels & Resorts-branded Hotel is being offered at $6,995,000 or $64,769 per key. The Holiday Inn Express & Suites Prospect Heights, an IHG Hotel, is a 108-room, five-story Hotel located at 600 N Milwaukee Ave, Prospect Heights, Illinois. The Property is highly visible and easily accessible off US 45. Various common area amenities at the Property include a fitness center, business center, meeting room, and breakfast area. Prospect Heights, Illinois, embodies a delightful blend of suburban charm, community spirit, and natural beauty, conveniently situated near major transportation hubs including O'Hare International Airport. Renowned for its peaceful residential neighborhoods and strong sense of community, the city exudes a welcoming atmosphere that resonates throughout its streets. Yet, beyond its residential appeal, Prospect Heights captivates with its verdant green spaces, from the scenic trails of Prospect Heights Park District to the serene shores of Lake Arlington. Outdoor enthusiasts revel in the abundance of recreational opportunities, from picnicking in local parks to exploring the lush landscapes of nearby forest preserves. Meanwhile, Prospect Heights' vibrant community life thrives through its diverse array of events, including neighborhood festivals, farmers' markets, and cultural celebrations. Residents and visitors alike can savor the region's culinary offerings, from cozy diners to upscale eateries, showcasing a diverse range of flavors. In essence, Prospect Heights offers a welcoming tapestry of experiences, blending suburban tranquility with lively community engagement, ensuring a warm and inviting environment for all who are drawn to its allure. Strategically positioned within reach of bustling attractions and essential landmarks, the hotel stands as a beacon for travelers seeking both convenience and adventure. With O’Hare International Airport less than 15 miles from the property, swift access to global connections is assured, while the Chicago Executive Airport offers a closer option. Retail therapy beckons at the Fashion Outlets of Chicago in Rosemont, or guests can opt for an adrenaline rush at Six Flags Great America, a thrill-seeker's paradise. For a cultural escape, the renowned Ravinia Festival awaits, offering an array of captivating performances. Those with a penchant for naval history can explore the Great Lakes Naval Station, while nature enthusiasts can bask in the tranquility of the Chicago Botanic Garden. Shoppers can indulge their retail desires at Northbrook Court, sports aficionados won't be disappointed with Wrigley Field, and for those yearning for the vibrant pulse of urban life, downtown Chicago awaits with its myriad attractions and endless possibilities. Whether guests seek adventure, relaxation, or exploration, the hotel's enviable location ensures that every desire is within easy reach. As of September, revenue per available room (RevPAR) in the Chicago, IL hospitality market has increased by 5.5 percent year-over-year. This increasing demand can benefit a potential investor by achieving higher hotel occupancy, boosting cash flow and overall financial returns.