Hospitality N Illinois

Marcus & Millichap arranges sale of 134-room hotel in Arlington Heights

Marcus & Millichap arranges sale of 134-room hotel in Arlington Heights,ph1

Marcus & Millichap closed the sale of Red Roof Inn Chicago – O’Hare, a 134-room hospitality property located in Arlington Heights, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $6,000,000.

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, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a partnership, was secured and represented by Ebrahim, Michael, Allan and Gomes.

Red Roof Inn Chicago – O’Hare is located at 22 W. Algonquin Road in Arlington Heights. The property is a 134-room, exterior corridor hotel built in 1984. It is located nine miles from Chicago O’Hare International Airport. The property is well positioned with excellent visibility from Highway 62 and is operating as one of the premier hotels in the competitive market.