Contacts
Alchemy Real Estate Advisors (AREA)
Property Details
- Property Type Other
- Property Size 39,960 SF
- Units 69
- Lot Size 1.95 Acre
- Additional Rent Contact for pricing
- Year Built 2008
- Date Updated Dec 11, 2024
Reach out to the broker for more info on lease terms and amenities
Highlights
- Fee simple interest in the 69-room Holiday Inn Express & Suites in Mattoon, Illinois
- The asset will be available for purchase in the January 22nd auction event via RI Marketplace
- Offered for sale as part of an eight-property (8) portfolio, with all properties being sold individually
- Strong operational upside in transitioning the asset out of institutional ownership and third-party management
- Property is offered unencumbered by management and debt and at a significant discount to replacement cost
- Ideally well-located off I-57, a major interstate providing easy access for travelers between Chicago and Southern Illinois, with an average daily traffic of approximately 20,000 vehicles passing the hotel each day
- Mattoon's major demand generators include a blend of educational, agricultural, and healthcare sectors
- Education demand is driven by the proximity to Eastern Illinois University (8 miles) and Lake Land College (6 miles), which have an aggregate enrollment of approximately 12,000 students
- Rural King Supply, a farm supply store with 135 stores across 13 states, is headquartered in Mattoon and employs several thousand people across the region
- Sarah Bush Lincoln Health Center, a major healthcare provider in the region, along with RR Donnelley and Consolidated Communications, provides added diversity among major employers within the area
- Leisure demand offers many outdoor recreation opportunities within Lake Mattoon, Douglas-Hart Nature Center, and Lytle Park
- Several annual events, including Bagelfest (claiming to be the “Bagel Capital of the World”), provide a balanced blend of local history and family-friendly activities
Getting around
-
Walk Score ®
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Bike Score ®
Location
- City Mattoon, IL
- Zip Code 61938
Points of Interest
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Pacific 66
0.19 miles
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Murphy USA
0.23 miles
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Citgo
1.50 miles
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Huck's Food & Fuel
1.52 miles
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BP
1.94 miles
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Marathon
2.53 miles
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Moto Mart
2.59 miles
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Casey's
2.82 miles
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Parking Lot A
5.09 miles
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Parking Lot C
5.20 miles
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Parking Lot B
5.21 miles
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Parking Lot F
5.27 miles
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Parking Lot D
5.30 miles
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Parking Lot E
5.32 miles
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J Lot
8.08 miles
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W-Lot
8.24 miles
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E-Lot
8.27 miles
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EIU X-Lot - Visitor Parking
8.48 miles
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Holiday Inn Express Hotel & Suites
0.00 miles
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Super 8
0.37 miles
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Hampton
0.41 miles
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Clarion Pointe
0.43 miles
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Comfort Inn
0.46 miles
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Suite Dreams Hotel
0.73 miles
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Hilton Garden Inn Mattoon
1.22 miles
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US Grant Motel
2.57 miles
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Days Inn by Wyndham Charleston
7.41 miles
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ALDI
0.15 miles
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Walmart Supercenter
0.31 miles
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Cross County Mall
0.59 miles
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JCPenney
0.65 miles
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Big Lots
0.86 miles
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County Market
7.71 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Alchemy Real Estate Advisors (AREA)