Property for Sale: 1731 IL-127, Greenville, IL 62246

$2,700,000
$2,700,000
1731 IL-127, Greenville, IL 62246
$2,700,000
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Price:
$2,700,000

Type Commercial

City Greenville
County Bond

MLS 12085877
Status Active Under Contract
Do NOT contact hotel staff or owner directly. This offering memorandum presents a conservative projection for the hotel's performance and is including under the Additional Documents Tab. While the hotel has experienced lower occupancy and ADR (Average Daily Rate) compared to its competitors for several years, this presents a significant upside opportunity for a new owner. The previous owner, having managed the property for 18 years before retirement, had a low-effort approach due to a minimal mortgage burden. Consequently, group reservations for weddings, family reunions, and corporate stays - which can generate high volume - were discontinued. Additionally, no marketing efforts were undertaken. Investment Potential: This situation presents a compelling opportunity for a new owner, particularly one with fresh ideas and enthusiasm. The property is ideally suited for a young couple seeking a live-in management model, reducing payroll and operating expenses. By implementing strategic marketing initiatives, a new owner can significantly increase revenue and profitability. Key Takeaways: 1) Low down payment - below 10% 2) Historically low occupancy and ADR create significant upside potential. 3) Low-effort management by prior owner is an opportunity for optimization. 4) Ideal for a live-in owner-operator model to minimize expenses. 5) Strategic marketing can unlock substantial revenue growth. 6) Hotel includes owner's living quarters, a large 4-bedroom apartment While the competitive set has achieved an average occupancy of 48% and an ADR of $80 over the past three years, the projections for the first two years are based on a lower occupancy rate (40%) and a slightly lower ADR ($74-$75). This conservative approach provides a realistic and achievable benchmark for the hotel's initial success PROPERTY INFORMATION: 3 Buildings. 2 interior and 1 exterior corridor 4 bedrooms, 2 bathrooms and full size kitchen 3.97 acres Sure Stay by Best Western Owner Operated In-ground swimming pool Free hot breakfast Wireless Do NOT contact hotel staff or owner directly.

Lot & Building Features

Construction Brick
Cooling Central Air, Central Individual
Tax Year 2023
Lot Dimensions 3.97 ACRES ft

Price History of 1731 IL-127, Greenville, IL

Date Name Price Difference
12/31/1969 Listing Price $2,700,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
Photo of Carol Molnar
Direct: 708-227-3388
Office
3580 W 95th Street
Evergreen Park, IL 60805
708-422-0011
Listed by BF Realty, Inc, Brian Reid
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1%
6.75%
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1731 IL-127 (MLS #12085877) is a commercial listing located in Greenville, IL. This property was listed on 06/20/2024 and has been priced for sale at $2,700,000.

Midwest Real Estate Data

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: BF Realty, Inc