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Fairview Court Motel 2745 S US Highway 45 52 28 Room Hotel Kankakee, IL 60901 $2,000,000 ($71,429/Room)
EXECUTIVE SUMMARY
The front of the property has access to US Route 52 and has an operational motel with 28 rooms and a managers apartment. The bulk of the property is behind the motel and is currently unused and undeveloped land.
This is a prime investment or development opportunity. This property is located right off the exit that has added multiple new gas stations, Dollar General, Walmart, Taco Bell, Hilton Garden Inn, Riverstone Conference Center, and features several commercial distribution centers. These 9.8 acres of land could also be used for commercial development given proximity to the interstate and the frontage.
Outdoor corridor motel constructed in 1945 that is still operational and producing respectable NOI with low operating costs. The lot in the back was previously used as a horse pasture. The old pasture is now undeveloped land that is accessible through the back of the motel.
This is a prime investment or development opportunity. This property is located right off the exit that has added multiple new gas stations, Dollar General, Walmart, Taco Bell, Hilton Garden Inn, Riverstone Conference Center, and features several commercial distribution centers. These 9.8 acres of land could also be used for commercial development given proximity to the interstate and the frontage.
Outdoor corridor motel constructed in 1945 that is still operational and producing respectable NOI with low operating costs. The lot in the back was previously used as a horse pasture. The old pasture is now undeveloped land that is accessible through the back of the motel.
PROPERTY FACTS
| Price | $2,000,000 | Building Size | 23,181 SF |
| Price Per Room | $71,429 | No. Rooms | 28 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1965 |
| Property Subtype | Hotel | Parking Ratio | 2.16/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 9.80 AC | ||
| Zoning | R-1 | ||
| Price | $2,000,000 |
| Price Per Room | $71,429 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 9.80 AC |
| Building Size | 23,181 SF |
| No. Rooms | 28 |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.16/1,000 SF |
| Corridor | Exterior |
| Zoning | R-1 |
AMENITIES
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 28 | $40.00 | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $102,761 | |
| Land Assessment | $33,048 | Total Assessment | $135,809 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$33,048
Improvements Assessment
$102,761
Total Assessment
$135,809
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Fairview Court Motel | 2745 S US Highway 45 52
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