221 S Monroe St - Hospitality FOR SALE


Pittsfield, IL 62363
$400,000 USD
847-644-2757

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$400,000 USD
Hospitality - FOR SALE
null | Request Cap Rate

221 S Monroe St
Pittsfield, IL 62363


HIGHLIGHTS

  • Fully updated boutique hotel featuring six uniquely designed units with a mix of bed sizes to accommodate diverse guest needs.
  • Recent capital improvements include a new roof and HVAC unit in 2023, along with complete interior and exterior repainting in 2025.
  • All guest rooms upgraded in 2025 with custom-made beds, new mattresses, pillows, ceiling tiles, and modern light fixtures for a refreshed aesthetic.
  • Sale includes all business systems, inventory, furnishings, and real estate, allowing for a seamless transition and immediate revenue generation.
  • Guest amenities include free parking, wireless internet, in-room mini-refrigerators, TVs, and access to a common area and spacious back patio.
  • Established and growing clientele base provides a strong foundation for continued success in the hospitality market.

OVERVIEW

The Monroe Street Suites is an updated and charming commercial boutique hotel located in Pittsfield, Illinois. The sale will include everything needed to continue business as usual, ensuring quick income for the new owner. The current owners have completely updated the hotel's aesthetic, transforming it into a chic, intimate atmosphere. The building consists of 6 units, mixing and matching bed sizes for all types of guests. Other recent updates include a new roof in 2023, a new HVAC roof unit in 2023, all new interior and exterior paint in 2025, all new custom-made beds in 2025, new mattresses and pillows in 2025, new ceiling tiles and light fixtures in 2025, and new metal on the back patio closets in 2025. The business currently offers its clients free parking and wireless internet. Each unit consists of 1 or 2 beds, a TV, extra seating, mini-refrigerator, full bathroom, hair dryer, iron/ironing board, and more. Guests can also enjoy a small common area as well as a larger back patio. The business already has an established clientele which continues to grow in recent years. All inventory, the business, all systems in place, the building, and land convey with the sale making it a truly convenient investment for someone looking to add to their hospitality portfolio or someone new who is looking for something small to start out with. Don't miss out on this amazing business opportunity!

FOR SALE DETAILS

PRICE

$400,000 USD

PRICE/SF

$156 USD /SF

# OF ROOMS

6

PRICE/ROOM

$66,667 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,605 SF

ZONING

-

APN/PARCEL ID

54-084-13,54-085-01

ASK ABOUT THIS PROPERTY

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847-644-2757

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847-644-2757

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