Hotels for Sale

RESIDENCE INN CHICAGO NAPERVILLE/WARRENVILLE

Address:
Warrenville, IL, Illinois
Description:
  • Fee-simple interest in 130-room Residence Inn Naperville/Warrenville Chicago offered at a fraction of replacement cost
  • Upscale, premium-branded extended stay asset in a top-three MSA with average pre-COVID trailing 36-month occupancy of approximately 70%
  • Property continues to outperform national occupancy with asset running ~54% occupancy over trailing three months
  • Offered unencumbered by debt and management with upside potential for a buyer taking over management
  • Ability to retain the Marriott flag for a long-term license upon completion of the PIP or exit the Marriott system to rebrand to another flag or to convert to an alternative use
  • The extended stay nature of the asset lends itself to potential alternative use, including potential conversion to residential use (subject to local zoning requirements, etc.) in light of strong residential demand in neighboring Naperville - one of the most affluent and sought-after cities in suburban Chicago and routinely acclaimed as one of the best places to live in the country. The feasibility of any change of use of the property is not assured and, if feasible, any change of use would be subject to compliance with all applicable laws, rules, and regulations.
  • Readily accessible to Interstate-88 with upwards of over 170,000 vehicles passing the location daily and proximate to the Interstate-88 / Interstate-355 junction
  • Proximate to regional demand including the Illinois Technology & Research Corridor, DuPage Children’s Museum, Edward Hospital, Nike and Naperville Yard Sports Complexes, Nicor Gas Headquarters, Nokia’s Naperville Campus, BP’s Corporate Campus, and the Fermilab
  • Located near North Central College in Naperville, College of DuPage in Glen Ellyn, Wheaton College in Wheaton, Benedictine University in Lisle, and Aurora University in Aurora
  • Readily Accessible to downtown Naperville and Chicago Premium Outlets, Morton Arboretum, DuPage Airport, O’Hare International Airport, Midway Airport, and downtown Chicago
  • Naperville submarket is uniquely well positioned to capitalize on the recent COVID induced residential and office migration to suburban markets
  • Ideally located in the broader Chicago MSA home to 9.4MM people - the third largest MSA in the US
  • Proximate to broader Chicago area demand while located outside of Cook County limiting tax liability for a prospective owner

Listing Agents

Andrew Makhlouf
T | 312.610.9067
Email

Mike Schlictman
T | 312.239.0577
Email

Brent Clemens
T | 312.239.0572
Email

Categories List:      

Send message to listing owner