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- LoopNet Team
441 W Algonquin Rd
Arlington Heights, IL 60005
Motel 6 Chicago North Central · Hospitality Property For Sale
·
54,444 SF
Investment Highlights
- 145-Room, Interior Corridor, Economy Hotel
- Priced Significantly Below Replacement Cost at $35,828 Per Key
- Significant Upside Potential Through Implementation of Strategic Cost Control
- Nine Miles from O’Hare International Airport
- Underperforming Hotel RevPAR Index; Value-Add Opportunity
- Operational Upside for Prospective Hands-On Owner-Operator Investor
Property Facts
| Property Type | Hospitality | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1987/2012 |
| Building Class | C | Parking Ratio | 0.98/1,000 SF |
| Lot Size | 2.25 AC | Corridor | Interior |
| Building Size | 54,444 SF | ||
| Zoning | B-2, Arlington Heights | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.25 AC |
| Building Size | 54,444 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1987/2012 |
| Parking Ratio | 0.98/1,000 SF |
| Corridor | Interior |
| Zoning | B-2, Arlington Heights |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
About 441 W ALGONQUIN RD , ARLINGTON HEIGHTS, IL 60005
Property Overview: The Motel 6 Chicago North Central Arlington Heights is a 145-room, three-story, interior corridor hotel built in 1987. Well-equipped with numerous common area and guest room amenities, this limited-service economy hotel offers spacious guest rooms and lobby space that come furnished with a microwave, refrigerator, work desk, flat-screen television, and laundry facilities. Location Overview: Arlington Heights, Illinois is a city located in Cook County in the northeastern region of the state, 25 miles northwest of Chicago and 20 miles east of Elgin. The Motel 6 Chicago North Central Arlington Heights is superbly positioned along Highway 62. With the city’s major employers and popular revenue generators in close proximity to the property, this sought after hotel benefits from many key industries of the city which include healthcare & social assistance, manufacturing, and professional, scientific, tech services. Northwest Community Hospital (2.1 miles) and Comcast (5.3 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 United Continental Holdings (23.2 miles), JP Morgan Chase Chicago Headquarters (23.2 miles), University of Chicago (30.5 miles). Revenue generators in the area, like Woodfield Mall (2.6 miles), Allstate Arena (7.4 miles), and the O’Hare International Airport (11.1 miles) help bring additional revenue to the hotel through an increase in transient business.
Property Taxes
| Parcel Number | 08-16-200-107-0000 | Improvements Assessment | $987,314 |
| Land Assessment | $429,686 | Total Assessment | $1,417,000 |
Property Taxes
