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1412 W Fayette Ave
Effingham, IL 62401
Econo Lodge Effingham · Hospitality Property For Sale · 20,865 SF

Investment Highlights

  • 65-Room, Exterior Corridor, Economy Hotel Built in 1977
  • Priced Significantly Below Replacement Cost at $16,846 per Key?
  • Operational Upside for Prospective Hands-On Owner-Operator Investor
  • Less than Five Miles from Effingham County Memorial Airport
  • Hotel Underwent Major Renovations Completed in 2018
  • Impressive Property Operations with Lucrative 13.39 Percent Capitalization Rate

Property Facts

Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 4.73 AC
Building Size 20,865 SF
No. Stories 2
Year Built/Renovated 1977/2018
Parking Ratio 5.56/1,000 SF
Corridor Exterior
Zoning B-5

Amenities

  • High Speed Internet Access
  • Public Access Wifi

About 1412 W FAYETTE AVE , EFFINGHAM, IL 62401

Property Overview: The Econo Lodge Effingham is a 65-room, two-story, exterior corridor hotel built in 1977. Well-equipped with numerous common area and guest room amenities, this limited-service economy hotel offers spacious guest rooms that come furnished with a microwave, refrigerator, desk, and flat-screen television with premium channels. Additionally, some common area amenities the hotel has to offer consist of an outdoor pool and self-service laundry facilities. Location Overview: Effingham, Illinois is a city located in Effingham County in the central region of the state, 80 miles south of Champaign and 100 east of St. Louis. The Econo Lodge Effingham is superbly positioned on West Fayette Avenue, near Interstate 70. With the city’s major employers and popular revenue generators in close proximity to the property, this sought-after hotel benefits from many key industries of the city which include healthcare and social assistance, manufacturing, and retail trade. Patterson Technology Center and Heartland Dental, two of the city’s largest employers, are located approximately three miles from the hotel and are prime revenue drivers for the surrounding area. Other major employers that are responsible for a significant portion of the workforce include FedEx Distribution (1.2 miles), Sherwin-Williams Company Distribution Center (1.5 miles), Stevens Industries Incorporated (1.7 miles), and Quad Graphics (2.2 miles). Revenue generators in the area, like Village Square Mall (2.1 miles) and My Garage Corvette Museum and Retail Store (4.3 miles) help bring additional revenue to the hotel through an increase in transient business. Extra demand drivers for the city include Effingham City Park (1.9 miles) and Effingham County Memorial Airport (4.5 miles).

Property Taxes

Property Taxes

Parcel Number
0311020100
Land Assessment
$179,470
Improvements Assessment
$284,060
Total Assessment
$463,530
  • Listing ID: 20670643

  • Date on Market: 8/18/2020

  • Last Updated:

  • Address: 1412 W Fayette Ave, Effingham, IL 62401

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