Super 8 - Champaign, IL
About This Property
- 60 Units
- Interior Corridor Hotel
- Perfect for Owner Operator with 2 Bedroom Manager's Quarters
- Underperforming the Comp Set with RevPAR Index of 84.9
- Asking $37,500 per Key
- Diverse Revenue Generators Nearby Include University of Illinois, Memorial Stadium, Carle Hospital, and Kraft Heinz
- Excellent Location on Interstate 74 and Interstate 57 in Central Illinois
The Super 8 in Champaign, IL is a 60 room, interior corridor hotel located in Central Illinois, serviced by Interstate 57 and Interstate 74. The hotel is perfect for an owner-operator with a large 2 bedroom manager's quarters. The hotel has been kept up well, with only approximately $35,000 left on the PIP requirements for the current owners.
As shown by the competitive set in the December 2022 STR report, the hotel is underperforming with a RevPAR Index of 84.9, leaving room for upside. The current owners have had challenges with staffing and feel they have not maximized the hotel's capabilities.
The hotel is minutes from the University of Illinois at Urbana-Champaign, Marketplace Mall, Assembly Hall, and Memorial Stadium. Champaign is also home to Parkland College, which serves about 18,000 students during the academic year. Champaign houses offices for the Fortune 500 companies: Abbott, Archer Daniels Midland (ADM), Caterpillar, John Deere, Dow Chemical Company, IBM, State Farm, AbbVie, Motorola Solutions, Brunswick, Capital One, Cargill, NVIDIA, Riverbed Technology, and Yahoo!. The technology incubator at Research Park, EnterpriseWorks, has launched 350+ startups since opening in 2014. Champaign also serves as the headquarters for several companies, including Jimmy John's, Herff Jones, formerly Collegiate Cap and Gown, and Kraft. Kraft's plant is one of the largest pasta factories in North America.
This agreement (“Agreement”) is between Amber Hotel Company (“Amber”) and the undersigned party (“Buyer”) who is interested in buying investment real estate.
The investment real estate is exclusively listed for sale with Amber. Amber shall provide Buyer with related confidential information, subject to the terms and conditions of this Agreement.
By checking the below box and viewing this property, you agree that:
- The related confidential information is provided for the sole purpose of having a Buyer evaluate the purchase of the property for itself or its affiliates. Buyer and its affiliates shall keep the related information confidential, and not reproduce, distribute or disclose such information to third parties, except to the extent third party consultants, lenders, or other agents of Buyer are required, in which case such third parties will be held to the same confidentiality standards as Buyer. Amber shall not be responsible for the accuracy or completeness of the information provided, or for any loss or expense, whether direct or indirect, arising from Buyer’s or Buyer’s affiliate’s use and reliance on the information.
- The undersigned principal or any company or entity in which the undersigned principal has controlling interest, including real estate brokerage companies, shall not be paid any form of commission or fee by the owner of the property for the purchase of the property.
- All offers and purchase agreements for the property from Buyer or its affiliates shall be submitted through Amber. Buyer shall not contact the owner of the property directly or act either directly, indirectly, through any third parties including affiliates, clients or other brokers to circumvent the purpose of this Agreement. Amber may solicit, represent and accept offers for the property from other potential buyers without obligation to this Buyer. Buyer acknowledges that real estate brokers are not qualified as experts for legal, financial, accounting, environmental, construction, soils, geological or engineering advice.
This property information, market information, and other information on this page as well as any related documents have been provided by the seller or other outside sources. Interested parties are highly encouraged to verify the information independently. Amber has not independently verified any information.