Hotels for Sale

Renaissance Chicago O’hare Hotel, IL

Address:
Chicago O'hare, Illinois
Description:
  • Leasehold interest in the 362-room all-suite Marriott Renaissance O'Hare offered at a substantial discount to replacement cost
  • Asset is available unencumbered of debt and management, with the ability to relicense the Marriott flag for a new long-term franchise agreement
  • Approximately 9,500SF of flexible meeting & banquet space with onsite dedicated covered parking garage
  • Newer build asset constructed in 2005 with comprehensive renovation completed in 2016
  • Easily accessible to Chicago O’Hare International Airport, the World's busiest airport with over 900,000 flights annually
  • Directly visible and adjacent to Interstate-90 with upwards of ~200,000 vehicles and ~180,000 daily passengers on the Blue Line ‘L’ passing the location daily
  • Readily accessible via the I90 North Cumberland full diamond interchange and the blue line Cumberland ‘L’ stop
  • Adjacent to the +92% leased 834,000SF Class-A Presidents Plaza office towers which are currently achieving rental rates 40% higher than the average Chicago Suburban office rates on the heals of a recently completed $30MM renovation
  • Optimal time to be investing in the O’Hare corridor with the ongoing multi-billion dollar upgrade and expansion of O’Hare Terminal 5, which aims to add ten new gates and an additional 350,000SF of terminal space by 2021
  • The O’Hare office market remains a focal point for growth with the lowest vacancy rate of the suburban Chicago markets and nearly 13MMSF of office space
  • Ideally located in the broader Chicagoland MSA, home to ~9.5MM residents and a record setting 58MM tourists in 2018

Listing Agents

Bennett Webster
T: 312.239.0560
Email

Brian Guernier
T: 407.203.9458
Email

Brent Clemens
T: 312.239.0572
Email

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