Sonesta Select Chicago Elgin, IL

Listing Agents

Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com

Eric Skipworth
T | 312.248.4109
eskipworth@paramountlodging.com

Detailed Information
Property Highlights
  • Fee simple interest in the 126-room Sonesta Select Chicago Elgin offered at a significant discount to replacement cost
  • Ability to retain the Sonesta flag for a new long-term license upon completion of the PIP
  • Strong operational upside in transitioning away from institutional ownership and national third-party operator to regional investor with stronger operating economies of scale
  • Opportunity to better position the asset amongst the competitive set upon completion of the PIP and a more regional-focused sales initiative
  • Adjacent to Interstate-90 with upwards of 150,000 vehicles passing the location daily
  • Proximate to all local demand, including Advocate Sherman Hospital, Ascension Saint Joseph Hospital, Elgin Community College, Judson University, and NOW Arena
  • Optimal time to be investing in north side Chicago with area demand generators moving and expanding north – including the estimated $2B Chicago Bears Arlington Heights stadium development
  • Readily accessible to the recently renovated O’Hare International Airport – with upwards of 84MM passengers annually
  • Proximate to all broader Chicago area demand while being located outside of Cook County, limiting tax liability for a prospective owner
Location

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