Marcus & Millichap completed the sale of a 78-room Comfort Suites hotel property in Elgin, Illinois.
“The property offered an attractive opportunity due to its recent full renovation to Choice Hotels’ latest Rise and Shine brand standards,” said Ebrahim Valliani, managing director investments. “As an all-suites property with strong in-place fundamentals, it was a strategic fit for the regional hotelier buyer, who plans to bring a more hands-on management approach.”
Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. The transaction received additional support from Michael Klar, Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team.
Built in 2006 on 1.75 acres, the Comfort Suites is located at 2480 Bushwood Drive, approximately 35 miles northwest of downtown Chicago. The property features an indoor pool, meeting space, business center and fitness center.
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