Illinois Hospitality Properties for Sale

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Updated: Jan 16

Chicago Motel with Restaurant Building

7621 S Cottage Grove Avenue, Chicago, IL 60619

$2,300,000

18,000 sqft 0.31 AC lot

Significant value‑add opportunity with the non‑franchise motel license.
Eligible for substantial City of Chicago grants and TIF funding for facade improvements and full building renovation.
Located within the Greater Chatham Initiative - 87th Street Corridor Improvement Zone.
Strategic location in the well‑established Chatham neighborhood with strong traffic counts and walking distance to retail, services, and neighborhood amenities.
Proximity to major transportation and key attractions.

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This listing looks promising.

Here's a quick look at some key insights for

7621 S Cottage Grove Avenue, Chicago, IL 60619

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Est. Cap Rate

5.9%
NOI ÷ price
Est. NOI

$135K
Annual
Mortgage

$1.8M
Dec 2020
Last Sold

Dec 2020
$1.85M
Property Type

Motel
Built 1974

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Updated: Feb 20

Chicago Motel Near Cottage Grove

9112 S Cottage Grove Avenue, Chicago, IL 60619

$2,450,000

12,000 sqft 0.42 AC lot

Zoned B3‑2 Commercial: Offers flexibility for repositioning or redevelopment.
Revitalization Area: Benefits from ongoing South Side revitalization, near the Obama Presidential Library site.
Grant Opportunities: Qualifies for City of Chicago and local grant initiatives.
Convenient Transportation: Proximity to the Dan Ryan Expressway, Metra Electric Line (91st St. station), and CTA bus routes.
High Traffic Area: Located near the Cottage Grove commercial corridor.

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Renovated Estate with Limitless Potential

409 N State Street, Franklin Grove, IL 61031

$1,300,000

15,500 sqft 1.66 AC lot

A multi-building estate with a renovated residence and custom homes.

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Corridor Motel with Restaurant

7621 S Cottage Grove Avenue, Chicago, IL 60619

$2,300,000

18,000 sqft 0.31 AC lot

1974-built 34-room motel with a separate front restaurant building and main-level parking.

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Historic Hotel and Restaurant

1290 Mulholland Street, Nauvoo, IL 62354

$2,989,000

2.06 AC lot

For sale hospitality property with a full-service restaurant, lounge, and eight overnight guest rooms plus rear parking access.

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American Inn Motel For Sale

1824 E Main Street, Danville, IL 61832

$500,000

0.92 AC lot

34-room motel with development potential in Danville, Illinois.

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Hotel with Restaurant and Bar

16733 Il Highway 40, Sheffield, IL 61361

$299,000

2.55 AC lot

Former Knights Inn hotel offering 50 guest rooms with on-site restaurant, bar, and fitness room.

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Lakefront Resort Cottage

41 Lake Vista Drive, Taylorville, IL 62568

$1,575,000

6,300 sqft

Powerboat lakefront cottage with a chef kitchen, floor-to-ceiling windows, and a custom boat dock.

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Turnkey Hotel in Jacksonville, IL

200 COMFORT Drive, Jacksonville, IL 62650

$3,300,000

2.13 AC lot

Flag hotel with strong financials and large rooms for sale.

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Lodge with Private Recreation Amenities

1425 Skyline Drive, Cobden, IL 62920

$849,900

Four-bedroom lodge with Jacuzzi, sauna, full bar, bandstand, and private shooting range for guest hosting in Cobden.

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Turn-Key Inn with Annex

412 Spring Street, Galena, IL 61036

$850,000

10,342 sqft

Licensed inn property with multiple guest suites and additional annex space on Highway 20.

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Chicago Motel Near Obama Library

6535 S King Drive, Chicago, IL 60637

$3,500,000

20,200 sqft 0.40 AC lot

53-room motel in Chicago's Woodlawn neighborhood, near Hyde Park.

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Wedding and Event Venue with Residence

15165 Quigley Road, Sycamore, IL 60178

$1,995,000

7.00 AC lot

Banquet hall, chapel seating up to 100, and a 3-story 4-bedroom residence on about 7 acres.

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Turnkey Flag Hotel

200 Comfort Drive, Jacksonville, IL 62650

$3,300,000

45,000 sqft

Turnkey hotel featuring exceptionally large rooms, a fitness room, guest laundry, and a business center.

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Mixed-Use Development Land

206 N Cook Street, Barrington, IL 60010

$3,495,000

2.01 AC lot

Zoned COMMR, this 2.01-acre downtown Barrington site offers flexibility for retail and residential uses.

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Red Roof Inn Near Chicago

9424 Waukegan Road, Morton Grove, IL 60053

$3,800,000

0.29 AC lot

53-room hotel near major roads and O'Hare Airport.

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Land for Hotel, Office, Flex

450 DeGroate Road, New Lenox, IL 60451

$695,000

2 sqft 2.00 AC lot

Located at I-80 and Route 30, ideal for development.

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Mixed-Use Development Site

206 N Cook Street, Barrington, IL 60010

$3,495,000

2.01 AC lot

For-sale 2.01-acre landmark site in Barrington, IL, zoned COMMR and listed at 206 N Cook Street.

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Turnkey Short-Term Rental Event Property

798 Karbers Ridge Road, Elizabethtown, IL 62931

$1,800,000

1,754 sqft 88.00 AC lot

Turnkey short-term rental and event property with a lodge-style home, partially finished pole barn, and seven rental units.

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Gated Campground Lot with Park Model

2795 E 28th Lot 417 Road, Seneca, IL 61360

$36,000

0.11 AC lot

Lot 417 in a gated RV campground includes a 1995 park model, covered deck with screen room, and recent roof.

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Hospitality and Event Venue

15469 State Route 127, Carlyle, IL 62231

$1,500,000

18,000 sqft

Multi-faceted hospitality property with a full-service restaurant, indoor event center, and wine tasting experiences on 10+ acres.

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Gated RV Campground Lot with Trailer

2795 E 28th Lot 546 Road, Seneca, IL 61360

$38,000

0.11 AC lot

Turnkey lot in a gated RV campground includes a furnished 2011 travel trailer, deck and screen room.

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Historic Hotel Conversion Opportunity

104 S Hill Street, Winchester, IL 62694

$129,900

11,980 sqft

Historic Abe Lincoln Hotel offers plans for a 9-room hotel, restaurant, bar area, and outdoor event patio.

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Luxury Lakefront Resort Property

1667 Sherwood Road, Dahinda, IL 61428

$6,800,000

213.48 AC lot

Expansive acreage with two sizable stocked lakes, timber setting, and multiple cabins for resort or event operations.

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Illinois Hospitality Properties Market Trends and Statistics

Explore 116 hospitality properties for sale in Illinois, showcased through 116 active listings on our real estate platform. These investment opportunities span a total of 1,158,040 square feet of properties for sale, with an estimated market value of $88,029,331.

Sale prices for hospitality properties in Illinois start at $30,000, averaging $1,294,548, and reaching up to $22,000,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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