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31 N Green Bay Rd
Waukegan, IL 60085
Motel 6 Waukegan · Hospitality Property For Sale · 39,000 SF

INVESTMENT HIGHLIGHTS

  • 87-Room, Interior Corridor, Economy Hotel
  • 105 Percent RevPAR Index Compared to the Competitive Set in 2020 and 130 Percent RevPAR Index Compared to the Competitive Set in 2019
  • Close Proximity to the Wisconsin Boarder and O’Hare Airport
  • Three Miles from Six Flags Great America
  • Well Cash-Flowing Asset with EBITDA Greater Than 34 Percent
  • Located Within the Chicago MSA

PROPERTY FACTS

Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 2.79 AC
Building Size 39,000 SF
No. Stories 1
Year Built 1985
Parking Ratio 3.68/1,000 SF
Corridor Interior
Zoning B-3; Waukegan

AMENITIES

  • Pool
  • High Speed Internet Access
  • Public Access Wifi

ABOUT 31 N GREEN BAY RD , WAUKEGAN, IL 60085

Property Overview: The Motel 6 Waukegan is a 87-room, two-story, interior corridor hotel built in 1985. 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, work desk, and flat-screen television. Additionally, some common area amenities the hotel has to offer consist of a vending machine and patio area, which used to be the outdoor pool. There is also a pad of grass adjacent to the patio area towards the back of the property which is included in the sale of the property. Location Overview: Waukegan, Illinois is a city located in Lake County in the northeastern region of the state, 45 miles north of Chicago. The Motel 6 Waukegan is superbly positioned on Highway 131, near the interchange of Washington Street. With the city’s major employers and popular revenue generators near the property, this sought-after hotel benefits from many key industries of the city which include manufacturing, retail trade, and health care. Cardinal Health (3.3 miles) and Vista Health System (3.4 miles), two of the city’s largest employers, are prime revenue drivers for the surrounding area. Other major employers that are responsible for a significant portion of the workforce include Abbott Laboratories (3.7 miles) and AbbVie Incorporated (3.7 miles). Revenue generators in the area, like Waukegan National Airport (4.7 miles) and USO of Illinois Great Lakes Center (4.9 miles) help bring additional revenue to the hotel through an increase in transient business. Extra demand drivers for the city include Greenbelt Forest Preserve (2.6 miles) and Six Flags Great America (3.8 miles).

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
08-19-400-049
Land Assessment
$152,996
Improvements Assessment
$533,589
Total Assessment
$686,585
  • Listing ID: 22968429

  • Date on Market: 5/7/2021

  • Last Updated:

  • Address: 31 N Green Bay Rd, Waukegan, IL 60085

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