Sheraton Suites Chicago Elk Grove

Sheraton Suites Elk Grove Village OM for

Property Details

Offering Price:

Stories:

# of Rooms:

Lot Size:

Year Built:

$17,500,000

7 Stories

253

9.61 Acres

1986

Sheraton Suites Chicago Elk Grove Village

121 NW Point Boulevard, Elk Grove Village, IL

Highlights

253-Suite Hotel in the Chicagoland Metro

Marcus & Millichap has been selected to exclusively market for sale a flagship Marriott-developed property, the Sheraton Suites Chicago Elk Grove is a 253-suite hotel equipped with amenities that include an indoor pool, fitness center, and ultra-comfortable beds. A high-end suburb of Chicago that is home to 5,600 businesses in the area. The Elk Grove Village Business Park contains the second largest concentration of employment in the state of Illinois, with approximately 100,000 people commuting here for work, with its diverse mix of local, national, and international companies.

  • 9.61 acre, fee simple, 253-key, 7-story Upper Upscale hotel, located in Chicago’s NW Suburbs

  • $4.9M in property improvements over the past five years

  • Priced below replacement cost at $69,170/key | $81,613/key with anticipated PIP

  • Located directly adjacent to I-90 at the Arlington Heights exit, just 8.6 miles from O’Hare Airport

  • Nearby demand generators include nearby Woodfield Mall, Allstate Arena, Rivers Casino, Legoland, and Arlington Park Racetrack

  • 2.74x RRM 2019