Listing Agency: Hometown Real Estate / Pioneer Land Company Show Phone

Listed By: Megan Wilson Show Phone

Added: Jan 2, 2024 Changed: Jul 26 Last Checked: Aug 20 at 12:06PM

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MLS# 11234669

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Investment Insights

Based on property information with market context.

This for-sale hospitality property is set on a two-acre lot within city limits and is currently operating as a hotel. The building includes 24 guest rooms plus a lounge with a private room that was used as a gaming room. There is also a two-bedroom apartment with a full kitchen, providing flexible on-site living or alternate use options. Selected furnishings and operating items, including linens, beds, and washer/dryers, are negotiable with the sale.

The property is located on Highway 106 close to Interstate I-72, offering straightforward regional access for travelers and prospective guests. As it sits within city limits, it may be suitable for buyers looking for an in-town hospitality asset with convenient connectivity.

Given the existing mix of guest accommodations, common/lounge space, and an on-site two-bedroom unit, the property may fit operators seeking a turnkey hospitality layout with multiple functional areas. Interested parties should review the negotiable personal property items and the buyer eligibility details tied to the Barry Business Booster Program, which is described as offering free sewer and water for one year, free Adams Fiber internet for one year, and up to $10,000 in seed funding, subject to qualification.

Key Highlights

• 2‑acre lot within city limits right on Highway 106, close to Interstate I‑72
• Currently operating as a hotel with 24 guest rooms
• Includes lounge plus a private room that was used as a gaming room

Property Analytics

Property Profile

Current Use

Hotels

Suggested Use

Top Pick Building Supply Real Estate Agency Big Box & Wholesale Store Auto Parts Store HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

119

Businesses Nearby

Explore this area Business Placement

Demographics for 62312, IL

2,017

Population

776

Households

2.6

Avg Household Size

43

Median Age

14%

College-Educated

89%

High-School Grad

93.4 sq mi

ZIP Area

22

Density / Sq Mi

$66,221

Median Household Income

$33,714

Median Earnings

$566

Median Rent

$96,400

Median Home Value

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Frequently Asked Questions

What type of property is this?

Hotel - For-sale hotel property featuring 24 guest rooms, a lounge with private gaming-style room, and an on-site two-bedroom apartment.

Where is this hotel located?

The property is located at 142 Smith Barry, IL.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: 2‑acre lot within city limits right on Highway 106, close to Interstate I‑72; Currently operating as a hotel with 24 guest rooms; Includes lounge plus a private room that was used as a gaming room