Business Overview:
Highly profitable 17-room motel located 15 miles southwest of Chicago in the growing community of Lockport, Illinois. The occupancy rate for this hotel is 85% with an average room rate of $48, $225-$280 weekly. Excellent repeat customer base including out-of-towners. The hotel is setback from a busy highway on 3 acres of land, which includes owner's home and an additional 4 acres of land for expansion or other development. The hotel is close to golf courses, baseball stadium, race track, river boats, shopping centers, and restaurants. This is a great opportunity for a serious and motivated owner operator. The building can be converted to accommodate other commercial uses, other than or in addition to a motel business, and there is vast acreage for expansion.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
The 17-room motel and owner's home were built in 1993. The motel is situated on 3 acres of land and is in excellent condition. All rooms are on the first floor and consist of beds: 1-King Bed; 5 Queen Size Beds; 11 Double Beds; 4 jacuzzis -- all rooms have direct dial phones with wake-up call. All rooms have individually controlled heat and air, and color TV. Two story owners home includes lobby, reception area, spacious kitchen, dining and family room, 3 bedrooms, 3 baths, and semi-finished basement. Recently purchased computer-telephone system which helps run the motel with ease. The additional 4 acres of land are prime for expansion or other business interests. Sub-division of property is possible.
Market Competition and Expansion:
This is the only motel in immediate area with no competition for miles. Interstate 355 highway expansion and exit is complete -- this allows for increased visibility and traffic. The motel is located in a prime location, in a growing community. Rental Income has increased each year, for the past 5 years.
Reason for Selling:
OWNERS RETIRING
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- The owner is not willing to work for the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.