**Suburban Studios – Suburban Collection** FOR SALE 5820 Franklin St, Michigan City, IN 46360 Franchise Collection Approved | 75 Rooms KEY PROPERTY HIGHLIGHTS * Franchise: Suburban Collection Approved by Choice Hotels * Total Rooms: 75 * Location: Prime Michigan City location near tourist and industrial centers * HVAC System: * Converted from centralized to individual units – \$178,000 (2021) * New rooftop HVAC unit – \$127,000 value * Water Heating: New commercial-grade water heater installed – 2020 * Interior Upgrades: * Extensive tile work from front lobby to back pool area * New Suburban Collection–approved furniture package * Light fixtures and desk carpeting replaced in pool area * Tile upgrades in pool and common areas * Kitchenette Upgrades: * KitchenAid installation upcoming – \$120,000 (start) * Electrical upgrades – \$50,000 * City-approved for kitchenette and required electrical connections CHOICE HOTELS BRAND INCENTIVES * Key Money: \$210,000 available from Choice Hotels for approved buyers RESTAURANT (Leased Space) * Electric Upgrades: Full circuit upgrade per city code – \$107,000 * Lease Terms: * Current rent: \$5,000/month (due to shared electrical meter) * Lease through September: \$3,500/month * Contract rent: \$7,000/month BANQUET FACILITY * Capacity: Seats 200–300 people * Recent Upgrades: * New carpet installed – 2023 * Renovations are currently in progress ADDITIONAL VALUE-ADDED OPPORTUNITIES * Hot plates are now fully approved for use in rooms * Stonework for rooms and counters ordered and pending installation * Long-term facility agreement transferable to buyer * All major FF\&E (furniture, fixtures, and equipment) finalized and installed LIQUOR LICENSE * Fully active liquor license included with the property INVESTMENT SUMMARY This turnkey Suburban Studios asset offers immediate revenue with a fully approved franchise, significant capital improvements, and key incentives such as Choice Hotels’ $210,000 key money. The additional restaurant and banquet facilities offer multiple income streams with recent upgrades and long-term rental income potential.