Quality Inn & Suites HARVEY, IL OFFERING MEMORANDUM

Size: px

Start display at page:

Download "Quality Inn & Suites HARVEY, IL OFFERING MEMORANDUM"

Sophia Payne
6 years ago
Views:

1 OFFERING MEMORANDUM

2 INVESTMENT OVERVIEW Investment Highlights 73-Unit, Interior Corridor, Limited Service Hotel Located Just Off the Intersection of Interstates 80 and Miles South of Downtown Chicago Recently Renovated in 2016 Property Overview: The Quality Inn & Suites Harvey is a 73-unit, interior corridor, limited service hotel. The hotel that was constructed in 1998, with a rennovation that started in 2016, is a three-story property located in a three hotel complex that has a large parking area. Hotel amenities include free outdoor parking, business center, meeting room, pool area, fitness center, guest laundry facilities, and breakfast bar with dining area. The rooms offer flat screen televisions, coffee makers, refrigerators, microwaves, and fully equipped kitchen in select rooms. The property is in excellent condition, and there will be a minimal change of ownership PIP required. Location Overview: The city of Harvey is in Cook County, Illinois, and a south suburb of Chicago. Quality Inn & Suites Harvey is conveniently located near South Suburban College and Prairie State College and serves as the perfect destination for students and parents. The property is also located just off the intersection of Interstates 80 and 294, close to many area attractions like: Navy Pier, Midwest, Car Museum, Soldier Field, Wrigley Field. The hotel is 40 miles south of O'Hare International Airport and 18 miles south of Chicago Midway International Airport. 8

3 PROPERTY SUMMARY The Offering Property Property Address Quality Inn & Suites Halsted Street Harvey, IL Assessor's Parcel Number Site Description Year Built/Renovated 1998 / 2016 Lot Size 3.02 Acres Type of Ownership Fee Simple Parking Ample Handicapped Parking Truck Parking Property Tier Location Type Available Available Midscale Highway Room Breakdown Total Number of Guest Rooms 73 Construction/Mechanical Foundation Framing Exterior Parking Surface Roof Plumbing Elevator HVAC Fire/Life/Safety Concrete Wood Stucco Asphalt Shingle Yes PTAC in Rooms 9

4 PROPERTY SUMMARY Franchise Franchise Parent Company Franchise Affiliation Application Fee Franchise Royalty Fee Franchise Marketing Fee Choice Hotels International Quality Inn & Suites $35,000 Minimum 5% of GRR 3.5% of GRR Transportation Highway Interstate 294 and 80 Airports O'Hare International Airport Chicago Midway International Airport Food and Beverage Service Name of Outlet Type of Outlet Location Distance Name of Outlet Type of Outlet Location Distance Name of Outlet Type of Outlet Location Distance Name of Outlet Type of Outlet Location Distance Maxwell Street Grill Hot Dogs, Burgers 745 W 172nd St 0.1 Miles Portillo s Hot Dogs Salad, Burgers, Hot Dogs S Halsted St 0.8 Miles Andy s Grill & Frozen Custard Ice Cream & Frozen Yogurt, Sandwiches Vincennes Ave 0.9 Miles Zetta s Ribs and Chicken Barbeque Jodave Ave 1.3 Miles 10

FEATURES AND AMENITIES Common Area Features

Heated Pool Braille Elevator Guest Laundry

Truck Parking Breakfast Bar with Dining Area

Screen Television Iron/Ironing Board Microwave

5 FEATURES AND AMENITIES Common Area Features Interior Corridors Fitness Center Indoor Heated Pool Braille Elevator Guest Laundry Guest Use Fax & Copy Machine Outdoor / Bus / Truck Parking Breakfast Bar with Dining Area 100% Smoke Free Hotel Room Amenities Flat Screen Television Iron/Ironing Board Microwave Oven Refrigerator Telephone Voic Coffee Maker Free Wifi 11

6 AREA MAPS Local Map Regional Map 12

7 AERIAL PHOTO 13

8 PROPERTY PHOTOS 14

9 PROPERTY PHOTOS 15

10 PROPERTY PHOTOS 16

HOLIDAY INN EXPRESS & SUITES CARTHAGE 2295 SE Loop Carthage, TX 75633

HOLIDAY INN EXPRESS & SUITES CARTHAGE 2295 SE Loop Carthage, TX 75633 2295 SE Loop Carthage, TX 75633 1 EXECUTIVE SUMMARY VITAL DATA CURRENT YEAR 1 Price $5,400,000 CAP Rate 13.37% 12.48% Net Operating Income $721,851 $673,841 Down Payment 20% / $1,080,000 Net Cash Flow