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Carmi Motel 1008 W Main St 26 Room Hotel Carmi, IL 62821 $1,950,000 ($75,000/Room)
Executive Summary
Headline: Unique 32-Unit Property + 3-Bedroom Home | Multi-Use Investment Opportunity
Description:
Rare opportunity to acquire a versatile real estate portfolio in Carmi, IL. This offering includes a 32-unit motel building, a spacious conference center, and a private 3-bedroom, 1-bathroom residence—all situated on a single, well-maintained lot.
This sale is for the real estate only, providing a blank canvas for an investor, developer, or owner-occupant. The property is ideal for a variety of adaptive reuse projects including:
Multi-Family Conversion: Transition the 32 units into affordable housing or studio apartments.
Institutional Use: Perfect for a non-profit, transitional housing, or a corporate retreat center.
Owner-Operator Setup: Live in the spacious 3-bedroom house while leasing or renovating the motel structure.
Property Highlights:
Motel Structure: 32 individual units with exterior entry.
Conference Room: Large common area suitable for events, dining, or office space.
Storefront: Located near the highway, ideal for marketing products.
3-Bedroom House: Modern layout, ideal for a primary residence or a rental for additional cap rate.
Location: High visibility in Carmi, with easy access to local amenities and transit routes. We are located on Highway 1, right across the street from the fairgrounds.
The Fine Print:
Being sold as-is. Seller is selling the real estate assets only; no financial records for the previous motel business will be provided.
Description:
Rare opportunity to acquire a versatile real estate portfolio in Carmi, IL. This offering includes a 32-unit motel building, a spacious conference center, and a private 3-bedroom, 1-bathroom residence—all situated on a single, well-maintained lot.
This sale is for the real estate only, providing a blank canvas for an investor, developer, or owner-occupant. The property is ideal for a variety of adaptive reuse projects including:
Multi-Family Conversion: Transition the 32 units into affordable housing or studio apartments.
Institutional Use: Perfect for a non-profit, transitional housing, or a corporate retreat center.
Owner-Operator Setup: Live in the spacious 3-bedroom house while leasing or renovating the motel structure.
Property Highlights:
Motel Structure: 32 individual units with exterior entry.
Conference Room: Large common area suitable for events, dining, or office space.
Storefront: Located near the highway, ideal for marketing products.
3-Bedroom House: Modern layout, ideal for a primary residence or a rental for additional cap rate.
Location: High visibility in Carmi, with easy access to local amenities and transit routes. We are located on Highway 1, right across the street from the fairgrounds.
The Fine Print:
Being sold as-is. Seller is selling the real estate assets only; no financial records for the previous motel business will be provided.
Property Facts
| Price | $1,950,000 | Building Size | 22,805 SF |
| Price Per Room | $75,000 | No. Rooms | 26 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1950 |
| Property Subtype | Hotel | Parking Ratio | 1.49/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.92 AC | ||
| Zoning | Z4 | ||
| Price | $1,950,000 |
| Price Per Room | $75,000 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.92 AC |
| Building Size | 22,805 SF |
| No. Rooms | 26 |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.49/1,000 SF |
| Corridor | Exterior |
| Zoning | Z4 |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 26 | $40.00 | - |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 13-23-226-020 | Improvements Assessment | $49,748 |
| Land Assessment | $21,075 | Total Assessment | $70,823 |
Property Taxes
Parcel Number
13-23-226-020
Land Assessment
$21,075
Improvements Assessment
$49,748
Total Assessment
$70,823
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Carmi Motel | 1008 W Main St