Hospitality N Illinois

Deerfield hospitality property sells for nearly $5 million

Deerfield hospitality property sells for nearly 5 million,ph1

Marcus & Millichap brokered the sale of Red Roof Inn Deerfield, a 115-room hospitality property located in Deerfield, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $4,950,000.

The buyer, a private investor, was secured and represented by Ebrahim Valliani, vice president investments, Michael Klar, associate, Allan Miller, senior vice president investments, and Chris Gomes, senior managing director investments, investment specialists in Marcus & Millichap’s Chicago Oak Brook, Austin and Dallas offices, respectively.

Red Roof Inn Deerfield is located at 340 South Waukegan Road in Deerfield. This 115-room property was completely renovated to “Red Roof Plus” brand standard. This transaction took 55 days from contract to closing.