- Strategic Highway Location: Positioned along IL Routes 130 and 250 between St. Louis and Louisville.
- Efficient Operating Model: Limited-service asset with low overhead and consistent demand drivers.
- Academic and Healthcare Demand: Near Olney Central College and Carle Richland Memorial Hospital.
- Strong Outdoor and Leisure Demand: Close to East Fork Lake, Olney City Park, and regional trails and nature preserves.
- Cultural and Historic Attractions: Near South Elliott Street Historic District, Carnegie Building Museum, and Richland Heritage Museum.
- Regional Travel Corridor: Captures transient demand from travelers between major Midwest markets.
- RV and Truck Parking: Accommodates highway travelers, logistics crews, and extended-stay guests.
INVESTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Super 8 by Wyndham Olney (‘Hotel’ or ‘Property’) located at 425 S West Street in Olney, Illinois. The economy, Wyndham-branded Hotel is offered at $1,995,000 or $48,659 per key.
Situated on approximately 1.63 acres, the Property features 41 guest rooms across two stories totaling approximately 22,380 square feet. The Hotel features fully renovated guestrooms, bathrooms, and public spaces, meaning there should not be any Property Improvement Plan (PIP) necessary at sale. Catering to both transient and extended-stay guests, the Property offers a functional amenity package including a business center, 24-hour front desk, RV and truck parking, pet-friendly accommodations, and complimentary breakfast and coffee. The Property is well-positioned at the intersection of Illinois Routes 130 and 250, providing convenient access for travelers moving between St. Louis, Missouri, and Louisville, Kentucky.
The Property benefits from proximity to a variety of local and regional demand generators that support consistent occupancy. Key drivers include Olney Central College, which generates academic and event-related travel, and Carle Richland Memorial Hospital, supporting healthcare-related lodging demand. Additional leisure demand is driven by nearby attractions such as East Fork Lake and Trails, Olney City Park, and the Robert Ridgeway Memorial Arboretum and Bird Sanctuary; as well as cultural destinations including the South Elliott Street Historic District, Carnegie Building Museum, and Richland Heritage Museum. The Hotel is also located near Fox Creek Winery and Olney-Noble Airport, further enhancing both leisure and regional travel demand.
Olney is a city in southeastern Illinois and the county seat of Richland County, with a population of approximately 8,701 residents. Serving as a regional hub for the surrounding rural communities, Olney plays a vital role in providing essential services, commerce, and employment opportunities throughout the area. Its location along key state highways enhances regional connectivity and supports accessibility to larger metropolitan areas across Illinois and neighboring states. The local economy is supported by a stable and diversified base, including education, healthcare, agriculture, and light industry. These sectors provide consistent employment and economic activity, reinforcing Olney’s role as a service center for Richland County and beyond. Moreover, the presence of schools, healthcare facilities, and local businesses contributes to long-term stability and supports a steady demand for goods and services within the community. With its stable economic foundation, regional accessibility, and strong community character, Olney represents a dependable and well-positioned market within the region.
BROKER OF RECORD
Steven Weinstock
Illinois
Lic #: 471.011175
P: (630) 570-2200
