Hospitality Group

Avison Young Lists Premium Extended Stay Hotel Development - Aurora, IL

aerial view of Premium Extended Stay Hotel Development - Aurora, IL

Avison Young, as sole exclusive agent, is pleased to offer the fee simple interest in the 3.5 acres Premium Extended Stay Hotel Development & Restaurant Pad (hereinafter “Property,” or “Hotel”), located in Aurora, Illinois. Located on Drexel Avenue, the site is easily accessible via State Route 59 and is 30 miles from the O’Hare International Airport and six miles from downtown Aurora. The project has been vetted by local lenders and FINANCING IS AVAILABLE for a qualified developer. The Premium Extended Stay Hotel Development is near local attractions such as the River Walk, Wheaton College, North Central College, Illinois Benedictine College, Northern Illinois University, Hollywood Casino, DePaul University, College of DuPage, and the Brookfield Zoo. Dining, shopping, and entertainment options like the Oakbrook Mall and downtown Aurora are within a few miles from the hotel site. Local businesses near the hotel site include Amcon, ConAgra Foods, Edwards Hospital, General Electric, General Motors, General Mills, IBM, International Truck, Lowe’s Regional Office, Lucent, Nalco, Nicor, and Volvo training center.

The Property is comprised of approximately 3.5 acres. The subject site is bounded on the North by Drexel Avenue; on the South by a service alley serving Yorkshire Shopping Center; on the West by undeveloped land, and on the East by a surface parking lot. The hotel will require approximately 2.5 AC of the total site which creates an opportunity to sell off a 1 AC parcel for a restaurant or commercial development. This strategy will reduce project costs by approximately $1.0M, which is reflected in the financial model.

 

Development Highlights:

  • On the Aurora-Naperville border along Illinois Route 59
  • Strong IL59 corridor & Drexel Avenue
  • Site has been reviewed by IHG
  • Highly profitable STAYBRIDGE SUITES brand is available
  • Site appraised for $3,200,000
  • Restaurant pad could be developed or sold
  • Proximate to numerous demand generators

 

Financial Highlights:

  • Price - $3,000,000 (includes restaurant pad)
  • Number of Acres - 3.5

 

For more information on this listing, contact:

Rick George

[email protected]

312-434-2430

or

Mike George

[email protected]

312-371-6550

published: 07-02-2020

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