- Four-Story, 94-Room, Marriot Hotels & Resorts-Branded, Interior-Corridor Hotel
- Located about 20 Miles Southeast of Chicago
- Easily Accessible and Highly Visible from Interstate 94 and Interstate 80
- Situated Under 10 Miles from Lake Michigan and Near Various Casinos and the Illinois State Line as well as Hammond’s Largest Employers and Highest Value Businesses
- TTM March 2023 Room Revenues Exceeded $2.47 Million
- Offered Fee-Simple, Unencumbered by Management Contracts or Existing Debt
Investment Overview
As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Fairfield Inn & Suites Chicago Southeast Hammond (‘Hotel’ or ‘Property’) located in Hammond, Indiana. The Marriott Hotels & Resorts-branded Hotel is offered Ten-X on a call-for-offers basis, for more information, contact the listing agent.
The Fairfield Inn & Suites Chicago Southeast Hammond is a 94-room, four-story Hotel stationed at 7720 Corinne Dr, Hammond, Indiana, just off Interstate 94 and Interstate 80. Various common area amenities at the Property include an indoor, breakfast area, fitness center, meeting space, laundry facility, dry cleaning service, and convenience store.
Hammond, Indiana is located in Lake County, Indiana, about 20 miles southeast of Chicago, Illinois. The Hotel's proximity to some of the city’s popular demand generators allows it to take full advantage of the prominent industries within the local economy. Hammond is situated on the southern shore of Lake Michigan, which is a popular attraction for visitors interested in water sports, beach activities, and fishing, (9.8 miles). Indiana Dunes National Park is also near the hotel (15.7 miles) and offers 15 miles of sandy beaches, hiking trails, birdwatching, and other outdoor activities. Additional room demand generators that provide entertainment for local tourists include Michael Jackson’s Childhood Home (8.2 miles), Hardrock Casino (4.1 miles), Purdue University Northwest-Hammond (1.6 miles), and the annual Festival of Lakes, which features live music, carnival rides, and food vendors (8.6 miles).
St. Catherines Hospital and Horseshoe Hammond Casino, two of the city’s largest employers are located 5.4 miles and 15.4 miles from the Hotel, respectively, and are prime revenue drivers for the surrounding area. Another employer that will be responsible for a significant portion of the workforce is Meats by Linz, a meat purveyor. Meats by Linz recently announced a project that involves a $30 million investment in the city that would employ over 320 people. The planned facility location is 6.3 miles from the Hotel.
In the trailing twelve-month period ending in March 2023, the limited-service Hotel recorded room revenues of over $2.47 million. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, benefiting from both increased market share and higher NOI flow-through.
Broker of Record
Josh Caruana
Indiana
License: RB
