Springhill Suites by
For Sale
Contact for pricing
Pending
300 Marriott Drive, Lincolnshire, IL 60069
161-key hotel in Lincolnshire, Illinois, for sale.
Property Size91,782 SF
Days on Market178
Property Features for 300 Marriott Drive
General Information
Standard status
Pending
Size
91,782 SF
Total Parking Spaces
172
Property subtype
Hospitality
Zoning
Special Use Office
Investment Type
Institutional
Building Details
Year Built
2001
Year Renovated
2017
Buildings
1
Stories
6
Listing Agency:
Fuller Real Estate
Listed By:
Mark Fuller · License #RB 14014919
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 19 at 5:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fuller Real Estate
Investment Insights
Based on property information with market context.
Located in Lincolnshire, Illinois, the Springhill Suites by Marriott presents an investment opportunity in an upscale corporate and residential area. This 161-key extended-stay hotel is situated near Class "A" office spaces, entertainment venues, and recreational facilities. The property is offered Fee-Simple and is poised for increased revenue through the completion of the approved Change of Ownership PIP by Marriott International. This hotel features an institutional-quality design and is a premium Select-Service Hotel establishment in one of Chicago's vibrant suburban markets. Lincolnshire, in Lake County, is known for its residential charm, commercial amenities, and proximity to Fortune 500 companies. The property size is 91782 square feet.
Key Highlights
- 161‑key Springhill Suites by Marriott in Lincolnshire, Illinois.
- Fee‑Simple ownership, offering complete control of the asset.
- Located in an upscale corporate and residential area near Class "A" office spaces, entertainment, and recreation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$617,980
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$12,359,600
$12.4M
Cap Rate 7%
$8,828,286
$8.8M
Cap Rate 9%
$6,866,444
$6.9M
Market Conditions
NOI Build-Up for 91,782 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.38M $15.00/SF
− Vacancy
−$75.7K −$0.83/SF
EGI
$1.30M $14.17/SF
− OpEx
−$683.0K −$7.44/SF
NOI
$618.0K $6.73/SF
Area
Lake County, IL
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$12,359,600
Cap Rate 7%
$8,828,286
Cap Rate 9%
$6,866,444
Alternative Uses
Best Use
Hotel Hospitality
$8.83M
$7.72M – $10.30M
NOI $617,980 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.69M
$27.73M – $36.97M
NOI $2,218,170 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 60069, IL
8,735
Population
3,846
Households
2.3
Avg Household Size
50
Median Age
72%
College-Educated
97%
High-School Grad
5.9 sq mi
ZIP Area
1,481
Density / Sq Mi
$157,366
Median Household Income
$82,672
Median Earnings
$2,682
Median Rent
$569,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - 161-key hotel in Lincolnshire, Illinois, for sale.
Where is this hotel located?
The property is located at 300 Marriott Drive Lincolnshire, IL.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: 161‑key Springhill Suites by Marriott in Lincolnshire, Illinois.; Fee‑Simple ownership, offering complete control of the asset.; Located in an upscale corporate and residential area near Class "A" office spaces, entertainment, and recreation.
