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Listed by Illinois and Midwest Leading Hotel Broker Members of Hotel Brokers International
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Franchise Motel for Sale,
Waukegan, Illinois
Formerly Best Inns
No Longer Available
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Waukegan/ Lake County is strategically located at the midpoint of the Chicago-Milwaukee Corridor. Because of this location, the County is served by a variety of transportation routes, including the two main highways connecting the two metropolitan areas, I-94 (Tri-State Tollway) and US 41.
Six Flags Great America Theme Park offers wholesome family entertainment and draws approximately 2.5 million guests annually. Great America also provides 3,000 part-time summer jobs. |
With the opening of Gurnee Mills in 1991, the area has become a mecca of sorts for shoppers from throughout the Midwest. Tour buses abound, and most weekends parking lots are full, adding as many as 100,000 temporary residents. With more than 300 shops and 2.2 million square feet of space, Gurnee Mills is a shopper's dream. Since the arrival of Gurnee Mills, other retail stores have been drawn to the area at Grand Avenue and Hunt Club Road on the west side of Gurnee.
Great Lakes Naval Base, which is the largest training center for naval recruits in the nation conducts graduations on 48 weekends of the year. Families of the recruits come from all over the country to watch the graduations. |
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The motel has an excellent location, just minutes from
all the main attractions in and around the Waukegan area,
which includes:
- Six flags Great America
- Great Lakes Naval Base
- Gurnee Mills
- Radio Hall of Fame
- Illinois Railway Museum
- Lake Michigan
- State Parks
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Few of the Top Employers:
- Department of the Navy
- Abbott Laboratories
- VISTA Health
- Gurnee Mills
- Lake County
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The motel consists of 88 units, outdoor pool, and continental
breakfast area.
The building is two stories, wood frame and brick construction with interior corridors.
Increases in the overall metropolitan market and downtown sub market indicate that the market has bottomed out with the prognosis for increasing occupancy levels and average daily rate for 2004 and 2005.
The Suburban market and economic indicators point to a positive growth trend in the near future.
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The property is in average condition and needs a new owner operator to inject capital into the motel.
The motel could be converted to a Motel 6 with approximately $300,000 to $350,000 in improvements.
This motel is an excellent buy for an owner operator.
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© Hotels for Sale and Motels for Sale Group -
International Hotel Brokers Network |
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