Crowne Plaza Chicago SW - Burr Ridge | 300 S Frontage Rd
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Crowne Plaza Chicago SW - Burr Ridge 300 S Frontage Rd
123 Room Hotel Burr Ridge, IL 60527 For Sale
Investment Highlights
- Great Location!
- Fee simple interest in the 123-room lender-owned Crowne Plaza Burr Ridge Chicago
- Qualified franchisees can retain the Crowne Plaza franchise through a new long-term relicense agreement with IHG upon completion of the PIP
- Lots of Local Developments!
- Offered unencumbered by debt and third-party management at a significant discount to replacement cost
- Strong operational upside for prospective owners with the hotel under receiver and lender control since 2021
Executive Summary
Alchemy Real Estate Advisors is pleased to offer for sale a fee simple interest the 123-room, lender-owned Crowne Plaza Chicago SW Burr Ridge, IL. The hotel entered receivership in February 2020, and a foreclosure was completed in September 2021. The hotel is franchised through a license agreement with IHG, and a third-party management company operates it. The hotel is being offered, unencumbered by debt and management, at a significant discount on replacement costs. It will be sold at the December 11th auction event.
Property Facts
| Sale Type | Investment | No. Rooms | 123 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built | 1968 |
| Building Class | B | Tenancy | Single |
| Lot Size | 4.61 AC | Parking Ratio | 3.69/1,000 SF |
| Building Size | 113,784 SF | Corridor | Interior |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 4.61 AC |
| Building Size | 113,784 SF |
| No. Rooms | 123 |
| No. Stories | 3 |
| Year Built | 1968 |
| Tenancy | Single |
| Parking Ratio | 3.69/1,000 SF |
| Corridor | Interior |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Shuttle Service
- On-Site Bar
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 3 | $215.18 CAD | - |
| Guest Room | 120 | $184.24 CAD | - |
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PROPERTY TAXES
| Parcel Number | 09-25-211-001 | Improvements Assessment | $1,312,549 CAD |
| Land Assessment | $838,273 CAD | Total Assessment | $2,150,822 CAD |
PROPERTY TAXES
Parcel Number
09-25-211-001
Land Assessment
$838,273 CAD
Improvements Assessment
$1,312,549 CAD
Total Assessment
$2,150,822 CAD
zoning
| Zoning Code | B-2 (A business zoning district that allows for a variety of commercial and retail uses, including restaurants and grocery stores) |
| B-2 (A business zoning district that allows for a variety of commercial and retail uses, including restaurants and grocery stores) |
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Adam Montufar -
Brent Clemens -
Bennett Webster -
Joseph Cuomo -
Alchemy Real Estate Advisors, LLC
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Crowne Plaza Chicago SW - Burr Ridge | 300 S Frontage Rd
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