Econo Lodge


Price:
$2,390,000

Address :
1908 N Lincoln Ave
Urbana, IL 61801


  •  Located near I-74 exit in highly sought after University of Illinois market
  •  Located near several hospitals and many business drivers
  •  As of 2016, the Champaign-Urbana MSA was home to 240,355 people, a 13% increase from 2001
  •  The hotel is being offered subject to the existing franchise. Choice Hotels is expected to grant a standard Econo Lodge license agreement upon the completion of a Product Improvement Plan.
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  •  As of 2016, the Champaign-Urbana Metropolitan Statistical Area (MSA) was home to 240,355 people, a 13% increase from the population in 2001.
  •  The internationally ranked University of Illinois at Urbana-Champaign enrolls over 44,800 students, and it is the region’s largest employer. Its Memorial Stadium, home to the Fighting Illini football team of the Big Ten Conference, seats over 60,600, and its men’s basketball program has ranked in the Top 25 nationally for home game attendance for 35 straight years.
  •  Close to Regional Demand Generators, Including...
    •  2.1 Miles to Downtown Urbana
    •  3.1 Miles to Memorial Stadium
    •  3.1 Miles to Champaign Town Center Commercial District
    •  3.4 Miles to State Farm Center
    •  4.2 Miles to Parkland College
  •  65 Rooms
  •  Continental Breakfast Area (Seats 16)
  •  Business Center
  •  Guest Laundry
  •  Exercise Room
  •  Indoor, Heated Pool
  •  Wireless Internet
  •  3 Stories
  •  Interior Corridors
  •  Wood Frame Structure
  •  Stucco Facade
  •  Pitched Roof with Asphalt Shingles
  •  Asphalt Parking Lot
  •  Built 1997
Financials
2016
2017
T-12Mos 4/18
Occupancy
37.35%
43.34%
42.27%
Average Daily Rate
$65.05
$66.17
$66.56
Room Revenue
$578,041
$680,413
$667,475
Net Operating Income
$196,736
$279,158
N/A
Monthly operating statistics are calculated on a cash basis and will not match completely with sales figures presented in the income statement. The property operated as a Sleep Inn until August 2016, at which time it transitioned to an independent property for approximately 4 months. Property has operated as an Econo Lodge since November 21, 2016.
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!