- 79-Room, Interior Corridor, Midscale Hotel Built in 2001
- Less than Seven Miles from Purdue University Northwest - Hammond
- Priced Significantly Below Replacement Cost at $35,380 Per Key
- Well Positioned with Excellent Visibility from Interstate 94
- Hotel RevPAR Penetration of 95 Percent Compared to the Competitive Set
- Operational Upside for Prospective Hands-On Owner-Operator Investor
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Baymont Inn & Suites Chicago Calumet City. The Wyndham-branded hotel is priced at $2,795,000 or $35,380 price per room; this represents a 2.57 times multiple on April 2020 trailing 12-month room revenues. An established property, constructed in 2001, is located near the Highway 83 and Interstate 94 interchange.
Priced at a 9.7 percent capitalization rate, this three-story, 79-room hotel presents a new owner the opportunity to acquire a fully stabilized asset within the Chicago MSA. This well-maintained hospitality asset is being sold at a price below replacement cost. An investor, looking to act as an owner-operator, can maximize profits through a reduction in management costs for the property. The hotel is well-equipped with an indoor pool, spa tub, fitness center, and rentable meeting rooms.
The expenses include provisions for a four percent reserve for capital replacement. The hotel is offered fee simple, unencumbered by a management contract and debt.
The Baymont Inn & Suites Chicago Calumet City is a 79-room, three-story, interior corridor hotel built in 2001. Well-equipped with numerous common area and guest room amenities, this limited-service midscale hotel offers spacious guest rooms and lobby space that come furnished with a microwave, refrigerator, work desk, and flat-screen television. Additionally, the common area amenities the hotel offers includes an indoor pool, spa tub, fitness center, business center, and meeting space.
Calumet City, Illinois is a city located in Cook County in the northeastern region of the state, 20 miles south of Chicago. The Baymont Inn & Suites Chicago Calumet City is superbly positioned along the Interstate 94 and Highway 83 intersection. With the city’s major employers and popular revenue generators near the property, this sought-after hotel benefits from many key industries of the city which include health care, retail trade, and transportation. Lear Seating Corporation (6.3 miles) and Indiana Harbor Belt Railroad (7.3 miles), two of the city’s largest employers, are prime revenue drivers for the surrounding area. Other major employers that are responsible for a significant portion of the workforce include Franciscan Hammond Health (2.9 miles) and Horseshoe Casino (9.5 miles). Revenue generators in the area, like Purdue University Northwest Hammond (6.6 miles), Gary/Chicago International Airport (12.3 miles), and the Towne Square Mall (8.6 miles) help bring additional revenue to the hotel through an increase in transient business.