640 N Wabash Ave - Hospitality FOR SALE
Chicago, IL 60611 |
640 N Wabash Ave
Chicago, IL 60611
HIGHLIGHTS
- Fee-simple interest in the institutionally managed and lender owned 174-key Holiday Inn Express Chicago – Magnificent Mile.
- Available in the March 20th auction event via Ten-X.
- Value add opportunity after the hotel re-opened May 2023 following COVID-induced shutdown and foreclosure.
- Significant recent capital upgrades and improvements to the property.
- Significant operational upside exiting lender control and more hands-on stabilization of operations.
- Ability to retain the Holiday Inn Express brand with a new long-term license agreement with IHG.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
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BUILDING DETAILS
PROPERTY NAME
Lender Owned Hotel Cass Chicago
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
55538
STORIES
16
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1927
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
-
ZONING
DX-12
APN/PARCEL ID
17-10-111-007-0000
