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MainStay Suites Springfield IL 3185 S Dirksen Pkwy 109 Room Hotel Springfield, IL 62703 $1,600,000 ($14,679/Room)
Executive Summary
MainStay Suites | Springfield, IL
?? 109-Key Extended-Stay Hotel | $5,250,000 Asking Price
Located in the heart of Springfield—the capital of Illinois—this 108-key MainStay Suites presents a rare opportunity to acquire a stabilized, extended-stay asset with an institutional flag in a resilient Midwestern market. Strategically positioned off I-55, the hotel enjoys consistent demand from government, healthcare, and corporate sectors.
Built in 2005, the property is purpose-built for extended stays, offering operational efficiency and strong margins. With minimal PIP and recent updates, the asset is ideal for both experienced hospitality investors and yield-focused buyers looking for a cash-flowing opportunity with upside.
Highlights:
Choice Hotels’ MainStay Suites brand – proven extended-stay performance
One of the lowest price-per-key extended-stay deals in the U.S. today
Durable revenue base driven by long-term guests and repeat corporate demand
Midwestern extended-stay supply remains limited, enhancing future growth potential
Ideal for 1031 exchange, yield strategy, or long-term hold
Motivated seller – priced below replacement cost
109-Key Interior Corridor Hotel | 4 Stories with Spacious Rooms
Extended-Stay Format | All suites equipped with kitchenettes; ideal for long-term guests
Significant Upside | Property achieving only ~45% of Comp Set RevPAR
RevPAR Gap | $28 vs. $65 for the Competitive Set – strong value-add opportunity
Strategic Location | Near major employers, universities, hospitals, and transit corridors
Deep Value Pricing | Offered at ~$48K per key – well below replacement cost
?? 109-Key Extended-Stay Hotel | $5,250,000 Asking Price
Located in the heart of Springfield—the capital of Illinois—this 108-key MainStay Suites presents a rare opportunity to acquire a stabilized, extended-stay asset with an institutional flag in a resilient Midwestern market. Strategically positioned off I-55, the hotel enjoys consistent demand from government, healthcare, and corporate sectors.
Built in 2005, the property is purpose-built for extended stays, offering operational efficiency and strong margins. With minimal PIP and recent updates, the asset is ideal for both experienced hospitality investors and yield-focused buyers looking for a cash-flowing opportunity with upside.
Highlights:
Choice Hotels’ MainStay Suites brand – proven extended-stay performance
One of the lowest price-per-key extended-stay deals in the U.S. today
Durable revenue base driven by long-term guests and repeat corporate demand
Midwestern extended-stay supply remains limited, enhancing future growth potential
Ideal for 1031 exchange, yield strategy, or long-term hold
Motivated seller – priced below replacement cost
109-Key Interior Corridor Hotel | 4 Stories with Spacious Rooms
Extended-Stay Format | All suites equipped with kitchenettes; ideal for long-term guests
Significant Upside | Property achieving only ~45% of Comp Set RevPAR
RevPAR Gap | $28 vs. $65 for the Competitive Set – strong value-add opportunity
Strategic Location | Near major employers, universities, hospitals, and transit corridors
Deep Value Pricing | Offered at ~$48K per key – well below replacement cost
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Miscellaneous
Property Facts
| Price | $1,600,000 | Building Size | 51,437 SF |
| Price Per Room | $14,679 | No. Rooms | 109 |
| Sale Type | Investment | No. Stories | 4 |
| Property Type | Hospitality | Year Built/Renovated | 1987/2022 |
| Property Subtype | Hotel | Parking Ratio | 1.5/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 1.48 AC | ||
| Zoning | Commercial - Commercial | ||
| Price | $1,600,000 |
| Price Per Room | $14,679 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.48 AC |
| Building Size | 51,437 SF |
| No. Rooms | 109 |
| No. Stories | 4 |
| Year Built/Renovated | 1987/2022 |
| Parking Ratio | 1.5/1,000 SF |
| Corridor | Interior |
| Zoning | Commercial - Commercial |
Amenities
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 109 | $116.00 | - |
Property Taxes
| Parcel Number | 22-12.0-301-012 | Improvements Assessment | $569,529 |
| Land Assessment | $222,803 | Total Assessment | $792,332 |
Property Taxes
Parcel Number
22-12.0-301-012
Land Assessment
$222,803
Improvements Assessment
$569,529
Total Assessment
$792,332
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MainStay Suites Springfield IL | 3185 S Dirksen Pkwy
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