For Sale
$1,900,000

45 103Rd St Chicago, IL 60628

40-Room Motel, 13.31% Cap Rate, High Occupancy

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
The Imperial Motel, a 40-key exterior corridor motel, presents a compelling investment opportunity in Chicago, Illinois. Located at 45 W 103rd St, in Cook County, this property boasts a strong 75% occupancy rate and a compelling asking price of $1,900,000, translating to $46,195 per key. The motel's 13.31% capitalization rate signifies significant potential for return on investment. Situated on approximately 0.76 acres of land, the property offers substantial upside potential for future development. Its strategic location on the bustling 103rd Street provides convenient access to key demand generators. These include Chicago Midway Airport, a mere 12.4 miles away, and a Metra station just 1 mile from the property, ensuring consistent guest traffic. The sturdy brick building is currently operating as a limited-service motel, making it an ideal candidate for affiliation with a budget-friendly hotel flag. This presents an excellent opportunity for investors seeking a high-yield hospitality asset in a dynamic Chicago location with potential for growth and expansion. The zip code is 60628.

Highlights

  • 40-key exterior corridor motel in Chicago, IL, offering a strong 75% occupancy rate.
  • Asking price: $1,900,000, or $46,195 per key.
  • Attractive 13.31% capitalization rate.
  • Situated on a 0.76-acre lot with development potential.
  • Excellent location on 103rd Street, near Midway Airport (12.4 miles) and a Metra station (1 mile).
  • Sturdy brick building, ideal for affiliation with a budget hotel brand.

Property Details for 45 103Rd St

Property type
Hospitality properties, Motels

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.7068943
Longitude
-87.6252516

FAQs

What type of property is this?
Hospitality property - 40-Room Motel, 13.31% Cap Rate, High Occupancy
Where is the hospitality property located?
The property is located at 45 103Rd St Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 40-key exterior corridor motel in Chicago, IL, offering a strong 75% occupancy rate.; Asking price: $1,900,000, or $46,195 per key.; Attractive 13.31% capitalization rate.
How can I contact the broker?
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45 103Rd St
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