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Hotel-Motel

Sheraton Suites Chicago Elk Grove

121 NW Point Boulevard, Elk Grove Village, IL 60007

Listing Price: $17,500,000

Number of Rooms
253
RevPAR
$25
Gross SF
120,684
Price/Room
$69,170
Price/Gross SF
$145.01
Year Built
1986

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Sheraton Suites, a 253-suite hotel located in the Chicagoland Metro, equipped with amenities that include an indoor pool, fitness center, expansive accommodations with plasma TVs, high-speed Wi-Fi access and ultra-comfortable beds. Elk Grove Village is a high-end NW suburb of Chicago that is home to 5,600 area businesses. The Elk Grove Village Business Park contains the second largest concentration of employment in the state of Illinois, with approximately 100,000 people commuting here for work, with its diverse mix of local, national, and international companies. This hotel represents the opportunity to acquire a branded hotel in the desirable Chicagoland metropolitan area that has had $4.8M in value-add improvements over the last five years. Demand drivers for the property include The Woodfield Mall, Arlington International Racecourse, Allstate Arena, and Rivers Casino.

Investment Highlights

  • Pre-COVID, property achieved $6.4M Room Revenue and $7.4M Gross Income
  • $4.8M in property improvements over last five years
  • Priced below replacement cost at $69,170/key | $81,613/key with anticipated PIP
  • Located adjacent to I-90, just 10 miles from O'Hare International Airport
  • 7-story Upscale hotel located in Chicago's NW Suburbs

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Hotel-Motel

Sheraton Suites Chicago Elk Grove

Listing Price: $17,500,000

Number of Rooms
253
RevPAR
$25
Gross SF
120,684
Price/Room
$69,170
Price/Gross SF
$145.01
Year Built
1986

Investment Highlights

  • Pre-COVID, property achieved $6.4M Room Revenue and $7.4M Gross Income
  • $4.8M in property improvements over last five years
  • Priced below replacement cost at $69,170/key | $81,613/key with anticipated PIP
  • Located adjacent to I-90, just 10 miles from O'Hare International Airport
  • 7-story Upscale hotel located in Chicago's NW Suburbs

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Sheraton Suites, a 253-suite hotel located in the Chicagoland Metro, equipped with amenities that include an indoor pool, fitness center, expansive accommodations with plasma TVs, high-speed Wi-Fi access and ultra-comfortable beds. Elk Grove Village is a high-end NW suburb of Chicago that is home to 5,600 area businesses. The Elk Grove Village Business Park contains the second largest concentration of employment in the state of Illinois, with approximately 100,000 people commuting here for work, with its diverse mix of local, national, and international companies. This hotel represents the opportunity to acquire a branded hotel in the desirable Chicagoland metropolitan area that has had $4.8M in value-add improvements over the last five years. Demand drivers for the property include The Woodfield Mall, Arlington International Racecourse, Allstate Arena, and Rivers Casino.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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