Comfort Suites Grayslake Libertyville North 1775 E Belvidere Rd Services hôteliers 108 chambres 7 791 954 € (72 148 €/Chambre) Grayslake, IL 60030

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Comfort Suites Grayslake near Libertyville North (‘Hotel’ or ‘Property’) located in Grayslake, Illinois. The Choice Hotels International-branded Hotel is offered at $8,495,000 or $78,657 per key.
The Comfort Suites Grayslake near Libertyville North is a four-story hotel with 108 rooms, located at 1775 East Belvidere Road in Grayslake, Illinois. The Hotel is easily accessible off US 45, near its intersection with IL 120 which sees an annual average daily traffic of approximately 23,000 vehicles. Various common area amenities at the Property include an indoor heated pool, hot tub, electric vehicle charging station ,banquet rooms, fitness center, breakfast area, laundry facility, business center and vending machines. Recent capital expenditures at the property include updates to the lobby, new roof, flooring in guest rooms, updated bathroom tile, and new hot water heaters.
As of January 2024, the 12-month average RevPAR in the Lake County Hotel Submarket increased by 7.2 percent, indicating robust growth and a lower-risk environment, boosting investor confidence in the asset and thriving market. The Hotel's current RevPAR index of 90 percent indicates untapped potential. With strategic revenue management and marketing, a new owner could raise the index to 94-97 percent, driving room revenues to approximately $2.3-2.7M over the next 5 years. This improvement would increase asset value and enhance returns, offering substantial upside for investors.
Grayslake, Illinois, offers a strong hotel investment opportunity within the Chicago-North Shore Metropolitan Statistical Area (MSA). The village benefits from a strategic location, excellent transportation infrastructure, a diverse employer base, strong educational and healthcare institutions, and a variety of tourism demand generators.
Grayslake is well-connected via Illinois Route 120, Route 83, and the Metra Milwaukee District North Line, providing convenient access to downtown Chicago and surrounding areas. Chicago O’Hare International Airport (33.5 miles) further enhances connectivity, making the area accessible for business and leisure travelers.
The village is home to several major employers, contributing to consistent business travel demand. Okabe Company Inc. (3.9 miles), and AbbVie Clinical Pharmacology Research Unit (0.4 miles) provide significant employment opportunities. Additionally, Abbott Laboratories (5.5 miles), a global healthcare company, adds to the economic stability of the area. The presence of The College of Lake County (1.8 miles) brings students, faculty, and academic visitors, while Northwestern Medicine & Lurie Children’s Hospital System (0.5 miles) including the Northwestern Emergency Center (0.5 miles), generates demand from medical professionals, patients, and visitors.
Tourism in Grayslake is driven by a mix of entertainment, recreation, and retail attractions. The Lake County Fairgrounds (2.6 miles) hosts a variety of events, including the annual Lake County Fair, attracting thousands of visitors. Canlan Sports Libertyville (2.6 miles) serves as a regional hub for tournaments and sporting events. Gurnee Mills Mall (6.6 miles), one of the largest shopping centers in Illinois, and Six Flags Great America (6.0 miles) are major tourism draws, significantly impacting seasonal hotel demand. American Place Casino (5.7 miles) is a growing entertainment venue, bringing additional overnight visitors. For outdoor enthusiasts, Illinois Chain O’Lakes (9.9 miles) provides year-round recreational activities, including boating, fishing, and hiking.
Significant economic development initiatives are underway to further strengthen Grayslake’s business climate. The Central Range Economic Development Initiative, covering approximately 900 acres, is expected to create 9,000 new jobs and generate $16.4 million annually in property tax revenue for local schools. Additionally, The Cornerstone Development, a large-scale mixed-use project, will feature industrial, retail, and residential spaces, further driving economic activity. Infrastructure enhancements to Illinois Route 120 and Route 83, expected to be completed between 2024 and 2026, will improve accessibility and traffic flow.