2745 S US Highway 45 52 - Hospitality FOR SALE


Kankakee, IL 60901
$2,000,000 USD
815-933-7708
2745 S US Highway 45 52, Kankakee, IL for Sale
$2,000,000 USD
Hospitality - FOR SALE
1/9
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2745 S US Highway 45 52
Kankakee, IL 60901


OVERVIEW

The front of the property has access to US Route 52 and has an operational motel with 28 rooms and a managers apartment. The bulk of the property is behind the motel and is currently unused and undeveloped land. This is a prime investment or development opportunity. This property is located right off the exit that has added multiple new gas stations, Dollar General, Walmart, Taco Bell, Hilton Garden Inn, Riverstone Conference Center, and features several commercial distribution centers. These 9.8 acres of land could also be used for commercial development given proximity to the interstate and the frontage. Outdoor corridor motel constructed in 1945 that is still operational and producing respectable NOI with low operating costs. The lot in the back was previously used as a horse pasture. The old pasture is now undeveloped land that is accessible through the back of the motel.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$86 USD /SF

# OF ROOMS

28

PRICE/ROOM

$71,429 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairview Court Motel

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1965

PARKING SPACES

50

LAND DETAILS

LAND ACRES

9.8 AC

LAND SF

426,888 SF

ZONING

R-1

APN/PARCEL ID

16-17-17-300-003,16-17-17-300-010

ASK ABOUT THIS PROPERTY

Sawan PatelSawan IncMore Info
815-933-7708

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Sawan PatelSawan IncMore Info
815-933-7708

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.