Skip to main content

Hotel-Motel

Two Property Choice Hotel Portfolio (Comfort Suites & Sleep Inn) Lansing, IL

2235 173rd St, Lansing, IL 60438

Listing Price: $9,690,000

Cap Rate
7.72%
Number of Rooms
133
RevPAR
$67
Gross SF
104,980
Price/Room
$72,857
RRM
3.00
Price/Gross SF
$92.30
Year Built
1995

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 133-room Two-Property Portfolio (‘Hotels’, ‘Properties’ or ‘Portfolio’) including the Comfort Suites Lansing and the Sleep Inn Lansing. Both Properties in this Portfolio have performed well and have produced strong revenues in recent years. The Portfolio achieved combined total revenues of over $3.2 million in 2021. Historically, the Portfolio revenues have consistently increased and the RevPAR has continued to trend upwards. This offering provides the perfect opportunity for an Owner-Operator to acquire a stabilized cash flow in the growing submarket near Chicago. These Properties are in Lansing, Illinois, which is within the coveted Chicago Metropolitan Area and are located off Highway 6, near the intersection of Interstate 80 and Interstate 94. Their exceptional location provides superior visibility to transient travelers and accessibility to prominent demand generators in the vicinity. Both hotels have benefited from Chicago and its submarkets growth in RevPAR. The Chicago South submarket’s twelve-month January 2022 RevPAR climbed over 50 percent year-over-year. As operations continue to improve, new investors can capitalize on potential RevPAR growth and continue to push daily rates and occupancy. The Comfort Suites Lansing and the Sleep Inn Lansing both maintain a brand affiliation with Choice Hotels International. Amongst franchisors, Choice Hotels International represents the third-largest number of properties worldwide. That, coupled with their powerful reservation system, is beneficial for its franchisees. Internationally, Choice has over 7,110 operational hotels. The Portfolio is offered fee simple and unencumbered by any management or debt.

Investment Highlights

  • Comfort Suites Lansing: 3-Story, 64-Room, Upper-Midscale Hotel Within Chicago Metropolitan Statistical Area
  • Sleep Inn Lansing: 4-Story, 69-Room, Midscale Hotel Within Chicago Metropolitan Statistical Area
  • Value Add Opportunity for an Experienced Hands-On-Owner-Operator to Raise Daily Rates and Improve Market Penetration through Aggressive Revenue Management Strategies
  • Total Revenues Over $3.2 Million in 2021 for Both Properties Combined

Exclusively Listed By

Hotel-Motel

Two Property Choice Hotel Portfolio (Comfort Suites & Sleep Inn) Lansing, IL

Listing Price: $9,690,000

Cap Rate
7.72%
Number of Rooms
133
RevPAR
$67
Gross SF
104,980
Price/Room
$72,857
RRM
3.00
Price/Gross SF
$92.30
Year Built
1995

Investment Highlights

  • Comfort Suites Lansing: 3-Story, 64-Room, Upper-Midscale Hotel Within Chicago Metropolitan Statistical Area
  • Sleep Inn Lansing: 4-Story, 69-Room, Midscale Hotel Within Chicago Metropolitan Statistical Area
  • Value Add Opportunity for an Experienced Hands-On-Owner-Operator to Raise Daily Rates and Improve Market Penetration through Aggressive Revenue Management Strategies
  • Total Revenues Over $3.2 Million in 2021 for Both Properties Combined

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 133-room Two-Property Portfolio (‘Hotels’, ‘Properties’ or ‘Portfolio’) including the Comfort Suites Lansing and the Sleep Inn Lansing. Both Properties in this Portfolio have performed well and have produced strong revenues in recent years. The Portfolio achieved combined total revenues of over $3.2 million in 2021. Historically, the Portfolio revenues have consistently increased and the RevPAR has continued to trend upwards. This offering provides the perfect opportunity for an Owner-Operator to acquire a stabilized cash flow in the growing submarket near Chicago. These Properties are in Lansing, Illinois, which is within the coveted Chicago Metropolitan Area and are located off Highway 6, near the intersection of Interstate 80 and Interstate 94. Their exceptional location provides superior visibility to transient travelers and accessibility to prominent demand generators in the vicinity. Both hotels have benefited from Chicago and its submarkets growth in RevPAR. The Chicago South submarket’s twelve-month January 2022 RevPAR climbed over 50 percent year-over-year. As operations continue to improve, new investors can capitalize on potential RevPAR growth and continue to push daily rates and occupancy. The Comfort Suites Lansing and the Sleep Inn Lansing both maintain a brand affiliation with Choice Hotels International. Amongst franchisors, Choice Hotels International represents the third-largest number of properties worldwide. That, coupled with their powerful reservation system, is beneficial for its franchisees. Internationally, Choice has over 7,110 operational hotels. The Portfolio is offered fee simple and unencumbered by any management or debt.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower