Hotel-Motel

Land - New Lenox, IL

Listing Price: Request For Offer

Lot Size
2.59 acres
Land Type
Land
Buildable Square Feet
112,820

Investment Overview

Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the New Lenox Land Site. The land has multiple franchise opportunities available; contact agent for more information. The 2.59 acres of land is priced on a call for offers basis and is located along the Interstate 80 and Highway 30 interchange.

At stabilization, a 75-room midscale hotel can expect to reach a $58 RevPAR given the strength of the market and comparable properties in the area, this translates to nearly $1,600,000 in room revenue. A comparable, well-maintained, hospitality asset tends to operate above 30 percent net operating income, this puts stabilized hotel returns above $475,000 before interest, taxes, depreciation, and amortization. This land also presents an opportunity for a new investor to implement their own management structure to capitalize on additional inefficiencies in the market.

Location Overview:
New Lenox, Illinois is located 40 miles southwest from Chicago's city center, and seated in their metropolitan statistical area. The Land - New Lenox is located near the Highway 30 and Interstate 80 interchange The village is home to corporations, entrepreneurial ventures, healthcare, retail, and restaurants. There are two Amazon Fulfillment Centers within an 18-mile radius of the land site. The Silver Cross Hospital, a hospital which has received an "A" for patient safety ten consecutive times and provides access to world-class healthcare in New Lenox. Also nearby are recreational venues which include the Cog Hill Golf & Country Club, Hickory Creek Preserve, and Lake Renwick Preserve. In Addition the Hollywood Casino & Hotel is near the land site and hosts entertainers as well as provide a venue for meetings and events. The land site is 35 miles southwest of the Chicago Midway International Airport, which supports millions of travelers yearly.

Investment Highlights

  • 2.59 Acres of Developmental Land Along Interstate 80
  • 35 Miles from Chicago Midway International Airport
  • Eight Miles from the Amazon Fulfillment Center
  • $58 Market RevPAR for Midscale Properties
  • Located Within the Chicago MSA; Five Miles East of Joliet

Exclusively Listed By

Listing Price: Request For Offer

Lot Size
2.59 acres
Land Type
Land
Buildable Square Feet
112,820

Investment Highlights

  • 2.59 Acres of Developmental Land Along Interstate 80
  • 35 Miles from Chicago Midway International Airport
  • Eight Miles from the Amazon Fulfillment Center
  • $58 Market RevPAR for Midscale Properties
  • Located Within the Chicago MSA; Five Miles East of Joliet

Investment Overview

Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the New Lenox Land Site. The land has multiple franchise opportunities available; contact agent for more information. The 2.59 acres of land is priced on a call for offers basis and is located along the Interstate 80 and Highway 30 interchange.

At stabilization, a 75-room midscale hotel can expect to reach a $58 RevPAR given the strength of the market and comparable properties in the area, this translates to nearly $1,600,000 in room revenue. A comparable, well-maintained, hospitality asset tends to operate above 30 percent net operating income, this puts stabilized hotel returns above $475,000 before interest, taxes, depreciation, and amortization. This land also presents an opportunity for a new investor to implement their own management structure to capitalize on additional inefficiencies in the market.

Location Overview:
New Lenox, Illinois is located 40 miles southwest from Chicago's city center, and seated in their metropolitan statistical area. The Land - New Lenox is located near the Highway 30 and Interstate 80 interchange The village is home to corporations, entrepreneurial ventures, healthcare, retail, and restaurants. There are two Amazon Fulfillment Centers within an 18-mile radius of the land site. The Silver Cross Hospital, a hospital which has received an "A" for patient safety ten consecutive times and provides access to world-class healthcare in New Lenox. Also nearby are recreational venues which include the Cog Hill Golf & Country Club, Hickory Creek Preserve, and Lake Renwick Preserve. In Addition the Hollywood Casino & Hotel is near the land site and hosts entertainers as well as provide a venue for meetings and events. The land site is 35 miles southwest of the Chicago Midway International Airport, which supports millions of travelers yearly.

Exclusively Listed By

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