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Best Western Heartland Inn 1416 Broadway Ave E 60 Room Hotel Mattoon, IL 61938 For Sale
Investment Highlights
- Positioned on Broadway Ave E, a well-traveled route in Mattoon, ensuring strong exposure.
- On-site parking available for customers and staff.
- Near restaurants, shopping centers, and residential neighborhoods for easy customer access.
Executive Summary
Opportunity
Fee-simple interest in the absentee owned 60-room Best Western Mattoon, IL
Offered at a significant discount to replacement cost
Eligible for Best Western auto transfer with no PIP requirements or additional membership fees
Ability to retain the Best Western flag for a new long-term membership agreement, subject to completion of the PIP and membership approval
Opportunity to better penetrate the comp set and reposition the asset upon implementation of hands-on ownership structure
Location
Ideally located adjacent to the newly developed Emeral Acres Sports Complex and fifteen minutes from Eastern Illinois University
Proximate to major corporate demand, including Rural King Headquarters, Consolidated Communications, and First Mid Bank & Trust
Easily accessible to area leisure demand, including Lake Mattoon, Lincoln Log Cabin State Historic Site, and Mattoon Golf & Country Club
Situated near the 129-bed Sarah Bush Lincoln Health Center, a leading regional hospital and major demand driver
Market Developments
Emerald Acres Sports Connection – A recently opened $150 million indoor/outdoor sports complex featuring multi-purpose fields, courts, and amenities. The development is expected to generate significant visitor traffic, driving thousands of additional room nights annually as further phases of expansion are completed
Fee-simple interest in the absentee owned 60-room Best Western Mattoon, IL
Offered at a significant discount to replacement cost
Eligible for Best Western auto transfer with no PIP requirements or additional membership fees
Ability to retain the Best Western flag for a new long-term membership agreement, subject to completion of the PIP and membership approval
Opportunity to better penetrate the comp set and reposition the asset upon implementation of hands-on ownership structure
Location
Ideally located adjacent to the newly developed Emeral Acres Sports Complex and fifteen minutes from Eastern Illinois University
Proximate to major corporate demand, including Rural King Headquarters, Consolidated Communications, and First Mid Bank & Trust
Easily accessible to area leisure demand, including Lake Mattoon, Lincoln Log Cabin State Historic Site, and Mattoon Golf & Country Club
Situated near the 129-bed Sarah Bush Lincoln Health Center, a leading regional hospital and major demand driver
Market Developments
Emerald Acres Sports Connection – A recently opened $150 million indoor/outdoor sports complex featuring multi-purpose fields, courts, and amenities. The development is expected to generate significant visitor traffic, driving thousands of additional room nights annually as further phases of expansion are completed
Property Facts
| Sale Type | Investment | Building Size | 31,014 SF |
| Sale Condition | Business Value Included | No. Rooms | 60 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1995/2023 |
| Building Class | B | Parking Ratio | 2.03/1,000 SF |
| Lot Size | 1.73 AC | Corridor | Interior |
| Zoning | C | ||
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.73 AC |
| Building Size | 31,014 SF |
| No. Rooms | 60 |
| No. Stories | 3 |
| Year Built/Renovated | 1995/2023 |
| Parking Ratio | 2.03/1,000 SF |
| Corridor | Interior |
| Zoning | C |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 60 | $104.00 | - |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $251,869 | |
| Land Assessment | $239,532 | Total Assessment | $491,401 |
Property Taxes
Parcel Numbers
Land Assessment
$239,532
Improvements Assessment
$251,869
Total Assessment
$491,401
Contacts
-
Jacki Bubis -
Carter Benedict -
Mike Schlictman -
Andrew Makhlouf -
Paramount Lodging Advisors
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Best Western Heartland Inn | 1416 Broadway Ave E
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