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Hotel-Motel

Econo Lodge Willowbrook

820 West 79th Street, Willowbrook, IL 60527

Listing Price: $4,625,000

Cap Rate
4.58%
Number of Rooms
120
RevPAR
$24
Gross SF
99,317
Price/Room
$38,542
Price/Gross SF
$46.57
Year Built
1990

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Econo Lodge Willowbrook (‘Hotel’ or ‘Property’). The Choice International-branded Hotel is offered at $4,625,000 or $38,542 per key. Willowbrook, Illinois, located in the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin Metropolitan Statistical Area (MSA), is about 20 miles southwest of downtown Chicago and is one of the most sought-after suburbs for homeowners and renters. The Property sits on 2.28 acres at the intersection of Route 83 and Interstate 55, which records over 212,000 vehicles per day combined. An ideal location for both business and leisure travelers, in 2019 over 120 million tourists traveled to Chicago. This offering presents a new investor the chance to acquire an opportunistic asset within the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA. Chicago is home to over 10 Fortune 500 companies such as Boeing Corporate Headquarters (22.1 miles), ADM Global Headquarters (22.3 miles), McDonald’s Corporate Office (20.5 miles), United Airlines (21.6 miles), and several others. The “Windy City” attracts travelers to see the Art Institute of Chicago (22.6 miles), Millennium Park (22.6 miles), Navy Pier (23.4 miles), Wrigley Field (28.6 miles), and Soldier Field (20.7 miles). More locally, Willowbrook offers multiple outdoor ventures such as Waterfall Glen Forest Preserve (3.4 miles), Morton Arboretum (11.8 miles), Graue Mill and Museum (6.6 miles), and Salt Creek Forest Preserve (11.2 miles). Operationally, the Hotel has struggled historically in competitive RevPAR and posted a 52 percent RevPAR penetration index in 2019. This offering presents the opportunity for an experienced owner-operator to add significant value through rate escalation and expense management strategies, ultimately increase market penetration. Current expenses include provisions for a four percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management fee or debt.

Investment Highlights

  • Three-Story, 120-Room, Exterior-Corridor Hotel
  • Priced Below Replacement Cost at $38,542 per Key
  • Located Within the Chicago Metropolitan Statistical Area (MSA)

Exclusively Listed By

Listing Price: $4,625,000

Cap Rate
4.58%
Number of Rooms
120
RevPAR
$24
Gross SF
99,317
Price/Room
$38,542
Price/Gross SF
$46.57
Year Built
1990

Investment Highlights

  • Three-Story, 120-Room, Exterior-Corridor Hotel
  • Priced Below Replacement Cost at $38,542 per Key
  • Located Within the Chicago Metropolitan Statistical Area (MSA)

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Econo Lodge Willowbrook (‘Hotel’ or ‘Property’). The Choice International-branded Hotel is offered at $4,625,000 or $38,542 per key. Willowbrook, Illinois, located in the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin Metropolitan Statistical Area (MSA), is about 20 miles southwest of downtown Chicago and is one of the most sought-after suburbs for homeowners and renters. The Property sits on 2.28 acres at the intersection of Route 83 and Interstate 55, which records over 212,000 vehicles per day combined. An ideal location for both business and leisure travelers, in 2019 over 120 million tourists traveled to Chicago. This offering presents a new investor the chance to acquire an opportunistic asset within the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA. Chicago is home to over 10 Fortune 500 companies such as Boeing Corporate Headquarters (22.1 miles), ADM Global Headquarters (22.3 miles), McDonald’s Corporate Office (20.5 miles), United Airlines (21.6 miles), and several others. The “Windy City” attracts travelers to see the Art Institute of Chicago (22.6 miles), Millennium Park (22.6 miles), Navy Pier (23.4 miles), Wrigley Field (28.6 miles), and Soldier Field (20.7 miles). More locally, Willowbrook offers multiple outdoor ventures such as Waterfall Glen Forest Preserve (3.4 miles), Morton Arboretum (11.8 miles), Graue Mill and Museum (6.6 miles), and Salt Creek Forest Preserve (11.2 miles). Operationally, the Hotel has struggled historically in competitive RevPAR and posted a 52 percent RevPAR penetration index in 2019. This offering presents the opportunity for an experienced owner-operator to add significant value through rate escalation and expense management strategies, ultimately increase market penetration. Current expenses include provisions for a four percent capital replacement reserve. The Hotel is offered fee simple, unencumbered by a management fee or debt.

Exclusively Listed By

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