CBRE Hotels has completed the sale of the 71-room Sleep Inn Chicago South located in Tinley Park, Ill. Platinum Hospitality sold the property to Jai Ambe Properties for an undisclosed price, RE Journals reports.
The four-story Sleep Inn opened in 2000 and last had renovations in 2011. The hotel reportedly benefits from its high barrier to entry location with deed restrictions for further hotel development. The hotel, which will remain a Sleep Inn franchise, is 20 miles from downtown Chicago.
The CBRE Hotels’ Chicago team consisted of SVPs Nate Sahn and James Johnson who represented the seller in the transaction. The team also represented Platinum Hospitality in the sale of the adjacent Comfort Inn & Suites Tinley Park in January 2014.