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- LoopNet Team
389 Eastgate Dr
Danville, IL 61834
Econo Lodge & Suburban Extended Stay · Hospitality Property For Sale
·
32,500 SF
Investment Highlights
- 125 Units (83 Econo Lodge / 42 Suburban Extended Stay)
- Same exit as approved casino location in Danville
- Only Extended Stay option in the Danville Market
- Priced at only $20,800 per key
- Located less than 2 hours from Chicago and Indianapolis
- Located in an OPPORTUNITY ZONE
Property Facts
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1981/2020 |
| Building Class | C | Parking Ratio | 5.02/1,000 SF |
| Lot Size | 10.20 AC | Corridor | Exterior |
| Building Size | 32,500 SF | ||
| Zoning | I1 - Light Industrial | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 10.20 AC |
| Building Size | 32,500 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1981/2020 |
| Parking Ratio | 5.02/1,000 SF |
| Corridor | Exterior |
| Zoning | I1 - Light Industrial |
Amenities
- Business Center
- High Speed Internet Access
- Patio
- Meeting Event Space
- Public Access Wifi
About 389 EASTGATE DR , DANVILLE, IL 61834
The 83-unit Econo Lodge and the 42-unit Suburban Extended Stay are located just off of I-74 in Danville, Illinois at the Illinois/Indiana border. Danville is less than two hours from both Indianapolis and Chicago and is a central transportation and distribution hub for the midwest with many manufacturing companies only 5 miles from the properties. Danville is set to build a new casino, located off the same exit as the property, bringing 600 jobs during construction and another 600 permanent jobs, when the casino is open. As both brands are within Choice, you will benefit from a central lobby and save a great deal of money with one front desk payroll. Recent renovations in the Econo Lodge include upgraded furniture, vinyl wood-like flooring, new granite vanities and fixtures. A number of bathrooms were upgraded with new tub surrounds and fixtures. The Suburban Extended Stay will feature 42 extended stay rooms with kitchenettes, modern furniture, full refrigerators, microwaves, and electric stoves. When renovations are complete, the Suburban Extended Stay will be the only extended stay option in Danville. Alternative Use Conversion: The property's zoning code "B3" has minimal restrictions on converting to commercial alternative uses, excluding manufactured home (HUD) and mobile homes / mobile home parks. Broker of Record Susie Johnson Chuck Baer Realty, Inc IL #475122660
Property Taxes
| Parcel Number | 23-12-453-001 | Improvements Assessment | $0 |
| Land Assessment | $28,946 | Total Assessment | $28,946 |
Property Taxes
