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    9424 Waukegan Rd Morton Grove, IL 60053

    For Sale
    $4,100,000

    Business Opportunity - Morton Grove, IL

    Property size:
    16,740 SF
    Days on Market:
    85
    Last Refresh:
    Dec 5 at 12:06 am

    Property Features for 9424 Waukegan Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    COMMR
    APN
    10181120180000
    Size
    16,740 SF

    Utilities

    Cooling system
    Central Air

    Building Details

    Roof type
    Composition
    Architectural style
    Other

    Coldwell Banker Leader Realty (312) 513-4490 [email protected]

    Listing agent Mark Ahmad (773) 465-4200 License #471007186

    Listing date Sep 12, 2025

    MLS# 12322121 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Red Roof Inn Business Opportunity

    The Red Roof Inn is a 2-level hotel building with 53 rooms, situated in Morton Grove, Illinois. Its location provides convenient access to major roads and interstates, and it is a short distance from O'Hare International Airport. The hotel is also located within a reasonable distance of downtown Chicago, offering easy access to attractions such as Navy Pier, museums, theaters, Six Flags Great America, and Golf Mill shopping center. The property provides accommodations with a variety of amenities, making it a practical choice for travelers visiting the Morton Grove area or those transiting through O'Hare International Airport. The property size is 16,740 square feet and is zoned COMMR.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Red Roof Inn ... Hotel

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morton Grove
    County
    Cook
    State
    Illinois
    Longitude
    -87.7999422
    Latitude
    42.0526798

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    FAQs

    What type of property is this?
    Hotel - 53-room hotel near O'Hare and Chicago attractions.
    Where is this hotel located?
    The property is located at 9424 Waukegan Rd Morton Grove, IL.
    What is the asking price?
    The asking price for this property is $4,100,000.
    What are key features of this property?
    This property features: - Convenient access to major roads, interstates, and O'Hare International Airport.; - Proximity to Chicago downtown and attractions like Navy Pier and museums.; - 53-room hotel building.
    (773) 465-4200
    Request Owner's contact information
    9424 Waukegan Rd Morton Grove, IL 60053
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    Morton Grove, IL 60053
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    9424 Waukegan Rd Morton Grove, IL 60053
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