Chicago Waukegan Marriott Portfolio
TownePlace Suites, 404 Lakehurst Rd, Waukegan, IL 60085
SpringHill Suites, 4101 Fountain Square Pl, Waukegan, IL 60085
Residence Inn Development Site, 3.5 Acre Land Parcel
PROPERTY SUMMARY
Opportunity
- Fee-simple interest in the Chicago Waukegan Marriott Portfolio
- The portfolio includes the 96-room TownePlace Suites, 120-room SpringHill Suites, and 3.5-acre Residence Inn Development Site
- Available for individual or portfolio sale
- Expected new long-term franchise agreements with Marriott
- Strong in-place performance with the TownePlace Suites and SpringHill Suites each seeing more than $1MM in NOI
Location
- Heavily trafficked location adjacent to Interstate 94 with more than 200,000 vehicles passing the hotels daily
- One mile from Lake County’s newest business park, Bridge Point North Business Park, an industrial development covering 225 acres and boasting 3MM SF of office, manufacturing, technology, life sciences, and distribution space
- Proximate to local corporate demand, including the headquarters for Abbott Laboratories and AbbVie, which collectively employ almost 200,000 people and cover 22MM SF of medical, research, and office space
- Convenient access to Vista Medical Center, a 228-bed comprehensive healthcare facility
- Minutes from all leisure demand including American Place Casino, Six Flags Great America, Great Wolf Lodge, and Gurnee Mills Shopping Center
- Readily accessible to Great Lakes Naval Base, the United States Navy’s only boot camp, and home to Recruit Training Command, Training Support Center, and Navy Recruiting District
- Chicagoland ranked as Top Metro in the US for Corporate Relocation and Site Selection for the 11th consecutive year by Site Selection Magazine
- Easily accessible to O’Hare International Airport, the 5th busiest airport in the country that is currently undergoing an $8.5B expansion and modernization project
- Located outside of Cook County, limiting tax liability for a new owner
