CLICK HERE: Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace: Auction Dates: December 8 - December 10, 2025 - Starting Bid: $850,000 | Former Hotel With Full Athletic Complex | Near Future Bears Stadium
- Strong Location & Accessibility: High-visibility corner near IL-53 and Dundee Rd with direct access to I-90, O'Hare International Airport, and Downtown Chicago.
- Substantial Redevelopment Opportunity: The site includes a six-story, 181-room hotel and a 60,000 SF athletic complex, providing flexible options for repositioning or adaptive reuse.
- Diverse Facility Mix: Hotel includes lobby, breakfast room, pantry kitchen, and laundry facilities. Athletic complex features: fieldhouse/gymnasium, health club/fitness, racquetball courts, indoor pool, and meeting/event space.
- Demographics: Affluent area with median household income of $121k and population over 250k within 5 miles.
INVESTMENT OVERVIEW
The property at 1500 E Dundee Rd in Palatine, Illinois, is a ±6.11-acre site featuring a closed 181-room Holiday Inn Express hotel and an expansive athletic complex. The hotel is a six-story, concrete-constructed building totaling approximately 90,000 square feet, with case goods still installed in the guestrooms. It includes a lobby, breakfast room, pantry kitchen, and laundry facilities. The athletic complex offers over 60,000 square feet of flexible space, including a 25,400 SF fieldhouse/gymnasium, 15,000 SF health club with 17 courts, 14,000 SF of racquetball courts, and a 3,800 SF indoor swimming pool. Additionally, the second level above the athletic facilities contains approximately 10,800 SF of meeting and event space, including a main ballroom, junior ballroom, and executive boardroom, with a banquet kitchen and direct access to the hotel tower.
Strategically located near the intersection of IL Route 53 and Dundee Road, the property benefits from high traffic counts—78,700 vehicles per day on IL-53 and 24,400 on Dundee Road—and offers direct access to I-90, O’Hare International Airport, and Downtown Chicago. The surrounding area includes retail, corporate offices, and residential housing, with major employers such as GE Healthcare, United Airlines, and Northrop Grumman nearby.
With its substantial infrastructure, prime location, and flexible layout, the property presents a compelling opportunity for repositioning, redevelopment, or reactivation in a resilient suburban Chicago market.
BROKER OF RECORD
Steven Weinstock
Illinois
Lic #: 471.011175
