455 Riverstone Pky - Hospitality FOR SALE


Kankakee, IL 60901
$10,900,000 USD
203-517-5023
455 Riverstone Pky, Kankakee, IL for Sale
$10,900,000 USD
Hospitality - FOR SALE
1/27
null | Request Cap Rate

455 Riverstone Pky
Kankakee, IL 60901


HIGHLIGHTS

  • Incredible Natural Light, Free Wi-Fi and Self-Parking
  • Indoor Heated Pool and Whirlpool, Fitness Center
  • On-site Dining, Business Center, Meeting/Event Space

OVERVIEW

The opportunity involves the fee-simple acquisition of the institutional-owned, third-party managed 110-key Wyndham Garden Kankakee, offered through a traditional marketing process and unencumbered by debt or management at a substantial discount to replacement cost. The property presents meaningful operational upside through a transition to more hands-on ownership and offers the ability to retain the Wyndham flag via a new long-term franchise agreement upon completion of the PIP. Recently switched from Hilton Flag to Wyndham. Potential to regain Hilton Flag with longterm franchise agreement and completion of the PIP. Property scheduled to begin renovations and signage conversion. Pricing may change with regard to renovation/PIP completion status. The hotel is highly visible and easily accessible from Interstate 57 at the U.S. Highway 52 exit, providing convenient access to key leisure attractions such as Kankakee River State Park, Haigh Quarry, and the recently opened $45 million Bradley Sports Complex. It is also well positioned near major corporate demand generators including CSL Behring, Nucor Steel, and Plochman Inc., as well as leading healthcare facilities such as Riverside Medical Center and Ascension Saint Mary’s Hospital. Additional demand is supported by proximity to Kankakee Community College and Olivet Nazarene University.

FOR SALE DETAILS

PRICE

$10,900,000 USD

PRICE/SF

$149 USD /SF

# OF ROOMS

110

PRICE/ROOM

$99,091 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wyndham Garden Kankakee

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2004

PARKING SPACES

213

LAND DETAILS

LAND ACRES

5.35 AC

LAND SF

233,046 SF

ZONING

C3

APN/PARCEL ID

16-17-17-306-013

ASK ABOUT THIS PROPERTY

Jennifer Lynne LaricciaColdwell Banker Commercial RealtyMore Info
203-517-5023

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Jennifer Lynne LaricciaColdwell Banker Commercial RealtyMore Info
203-517-5023

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