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- LoopNet Team
2200 S Elmhurst Rd
Mount Prospect, IL 60056
Four Points by Sheraton Mount Prospect O'Hare · Hospitality Property For Sale
·
49,806 SF
Investment Highlights
- Fee simple interest in the 93-room Four Points by Sheraton Mt. Prospect offered at a fraction of replacement cost
Property Facts
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 2000/2018 |
| Building Class | B | Parking Ratio | 1.83/1,000 SF |
| Lot Size | 1.83 AC | Corridor | Interior |
| Building Size | 49,806 SF | ||
| Zoning | H-1 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.83 AC |
| Building Size | 49,806 SF |
| No. Stories | 3 |
| Year Built/Renovated | 2000/2018 |
| Parking Ratio | 1.83/1,000 SF |
| Corridor | Interior |
| Zoning | H-1 |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Shuttle Service
- High Speed Internet Access
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
- Digital key
About 2200 S ELMHURST RD , MOUNT PROSPECT, IL 60056
Fee simple interest in the 93-room Four Points by Sheraton Mt. Prospect offered at a fraction of replacement cost Minimal change of ownership PIP expected due to full hotel redevelopment in 2018 Available unencumbered of debt and management Ability to relicense property under the existing Marriott brand for a new long-term franchise agreement Consistently strong performing market with the trailing 26-month pre-COVID competitive set occupancy of ~68% Strong operational upside for a new owner to revamp operations and execute a revised sales and marketing strategy that has been missing since pre-COVID Recovery is well underway in the market and Subject Hotel with T3 RevPAR up ~122% and ~188% respectively Readily accessible to Interstate-90 with upwards of 195,000 vehicles passing the location daily Ideally located approximately 1 mile from O’Hare Airport, the third busiest airport by passenger traffic in 2019 Readily accessible to all local and regional demand, including CVS Caremark, Robert Bosch Tool Corporation, J&J Ventures, and Rauland-Borg Corporation, Northwest Community Hospital, Advocate Lutheran General Hospital, Arlington International Racecourse (Chicago Bears Redevelopment), Allstate Arena, Donald E. Stephens Convention Center, US Army Contract Management Agency, Mobil and Citgo Petroleum Corporations Supply Terminals, and all greater Chicago demand An opportune time to invest in Mt. Prospect with the National Football League’s Chicago Bears plans to redevelop the Arlington International Racecourse property into a ‘world-class stadium’ in neighboring Arlington Heights
Property Taxes
| Parcel Number | 08-23-402-009-0000 | Improvements Assessment | $526,461 |
| Land Assessment | $348,561 | Total Assessment | $875,022 |
Property Taxes
