40-Room Super 8
For Sale
$3,679,000
9110 Waukegan Rd, Morton Grove, IL 60053
Two-level lodging property with on-site parking and access to major roads and interstates.
Property Size19,562 SF
Price / SF$188.07
Days on Market52
Property Features for 9110 Waukegan Rd
General Information
Standard status
Active
Size
19,562 SF
Property subtype
Business Opportunity
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
2
Listing Agency:
Century 21 Circle
Listed By:
Mark Ahmad · License #471007186
(773) 983-1553
Source:
Liveliferealty
Added: Aug 23
Changed: Oct 4
Last Checked: Oct 7 at 1:08PM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
The Super 8 by Wyndham hotel at 9110 Waukegan Rd in Morton Grove, Illinois, is a two-level hospitality property with 40 guest rooms and an on-site parking lot. The asset is positioned for lodging operations serving travelers seeking straightforward accommodations and convenient regional access.
Major roads and interstates are nearby, with access extending to O'Hare International Airport and downtown Chicago. The surrounding travel corridor also connects guests with Navy Pier, museums, theaters, Six Flags Great America, Golf Mill shopping center, and nearby communities.
Major roads and interstates are nearby, with access extending to O'Hare International Airport and downtown Chicago. The surrounding travel corridor also connects guests with Navy Pier, museums, theaters, Six Flags Great America, Golf Mill shopping center, and nearby communities.
Key Highlights
- 40‑room hotel arranged across 2 levels
- Super 8 by Wyndham hotel at 9110 Waukegan Rd, Morton Grove, IL 60053
- On‑site parking lot serving the hotel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,348
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,926,960
$2.9M
Cap Rate 7%
$2,090,686
$2.1M
Cap Rate 9%
$1,626,089
$1.6M
Market Conditions
NOI Build-Up for 19,562 SF
Gross rent
$352.1K $18.00/SF
− Vacancy
−$44.0K −$2.25/SF
EGI
$308.1K $15.75/SF
− OpEx
−$161.8K −$8.27/SF
NOI
$146.3K $7.48/SF
Area
Cook County, IL
Vacancy
12.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,926,960
Cap Rate 7%
$2,090,686
Cap Rate 9%
$1,626,089
Alternative Uses
Best Use
Hotel Hospitality
$2.09M
$1.83M – $2.44M
NOI $146,348 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.75M
$5.91M – $7.88M
NOI $472,771 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
Explore this area
Business Placement
Demographics for 60053, IL
25,297
Population
9,546
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
90%
High-School Grad
5.1 sq mi
ZIP Area
4,960
Density / Sq Mi
$106,078
Median Household Income
$61,315
Median Earnings
$2,210
Median Rent
$377,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Two-level lodging property with on-site parking and access to major roads and interstates.
Where is this hotel located?
The property is located at 9110 Waukegan Rd Morton Grove, IL.
What is the asking price?
The asking price for this property is $3,679,000.
What are key features of this property?
This property features: 40‑room hotel arranged across 2 levels; Super 8 by Wyndham hotel at 9110 Waukegan Rd, Morton Grove, IL 60053; On‑site parking lot serving the hotel
