Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Econo Lodge Princeton (Hotel’ or ‘Property’) located in Princeton, Illinois. The Choice Hotels International-branded Hotel is being offered on a “Request for Offer” basis. Please contact listing agent for more information. The Econo Lodge Princeton is a two-story hotel with 40 rooms and a two-bedroom apartment with a one-bedroom living suite, located at 2200 North Main Street in Princeton, Illinois. The hotel is easily accessible just off Interstate 80. As of June, the 12-month average RevPAR in the Illinois North Area Hotel Submarket increased by 3.2 percent, indicating robust growth and a lower-risk environment, boosting investor confidence in the asset and thriving market. With a RevPAR Index of 56 percent, the hotel presents untapped potential. Strategic revenue management and marketing initiatives could lift performance, increase room revenues and enhance investor returns. Positioned in the heart of Bureau County, Princeton, Illinois presents a compelling opportunity for hotel investment within a stable and diversified regional market. As the county seat and a key community within the Ottawa–Peru Micropolitan Statistical Area, Princeton benefits from a strategic location along Interstate 80, providing direct access to major urban hubs including the Quad Cities, Peoria, and the greater Chicago metropolitan area. This central position supports consistent transient, commercial, and regional travel throughout north-central Illinois. Princeton’s economy is anchored by a robust base of industrial employers, logistics centers, and healthcare services. Major companies such as L.W. Schneider (1.6 miles), the Ace Hardware Distribution Center (0.7 miles), and Allegion’s LCN Closers (0.8 miles) division generate steady corporate lodging demand. Healthcare also plays a critical role in regional activity, led by OSF HealthCare’s Perry Memorial Hospital (2.7 miles)—a full-service facility that attracts both patient traffic and traveling medical professionals. While Princeton does not host a university campus, Illinois Valley Community College (25.4 miles) in nearby Oglesby contributes to a dependable flow of faculty, students, and visiting families. The city’s revitalized downtown serves as a cultural and commercial draw, with boutique shops, local restaurants, the Amtrak depot, and restored Apollo Theatre (1.9 miles) offering an authentic small-town experience. Princeton hosts several signature events that drive seasonal leisure demand, including the long-running Bureau County Homestead Festival each September, the professional summer theater series Festival 56 (1.8 miles), and the Bureau County Fair (2.4 miles)—celebrating over 165 years of tradition and drawing regional attendance with live entertainment and agricultural showcases. Outdoor recreation remains a key driver of year-round visitation. The Hennepin Canal Parkway State Park (13.7 miles)—just 15 minutes from Princeton—offers more than 100 miles of multi-use trails ideal for biking, hiking, and horseback riding. In-town parks, conservation areas, and nearby waterways expand the area’s appeal to nature-focused travelers, RVers, and extended-stay guests seeking active or family-friendly experiences. Princeton continues to prioritize economic growth through multiple development tools, including a designated Interstate 80 Tax Increment Financing (TIF) district, two shovel-ready industrial parks, and participation in the Bureau/Putnam Enterprise Zone, which provides property tax abatements and sales tax incentives for qualifying investments. The city also offers local grant programs that support downtown renovation and tourism-driven business activity.