Marcus & Millichap has sold the 83-room Holiday Inn Express & Suites in Aurora, Ill. to an unknown seller. The property sold for $11 million. The buyer is an established regional owner-operator. Other terms were not disclosed.
“It was a relatively smooth transaction, and we were able to find a buyer that had an interest in growing their hospitality presence in the region,” Scott Havericak, Marcus & Millichap's first vice president investment, said in a statement. “Both buyer and seller were happy with the outcome of the sale.”
Havericak, along with Robert Hunter and David Altman, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor, and secured the buyer, an established regional owner-operator. Steven Weinstock, Marcus & Millichap’s broker of record in Chicago, assisted in closing the transaction.
The 83-room, three-story hotel is located in an industrial suburb of Chicago. Its location is near a multitude of demand generators, including Hollywood Casino Aurora, AMITA Health Mercy Medical Center, DHL Supply Chain, Aurora University, and major national retailers such as Wendy’s, Starbucks, Aldi and Walgreens.