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    1907 Cunningham Ave Urbana, IL 61802

    Sponsored
    For Sale
    $9,000,000

    Profitable Hotel, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Exceptional investment opportunity: EastLake Suites Hotel & Conference Center in Urbana, Illinois, is offered for sale at $9,000,000. This 127-key, full-service hotel, built in 1966 and renovated in 2011, boasts consistently strong financial performance, generating annual revenue between $2.9 million and $3.1 million. High occupancy rates are maintained year-round due to a strategic location near Interstate 74 and the University of Illinois, attracting corporate clients, university events, and leisure travelers. The hotel features spacious guest rooms and suites, many with fully equipped kitchens and fireplaces, catering to both short-term and extended stays. Amenities include a heated indoor pool, a full-service fitness center, whirlpool tubs, a lounge and bar, and on-site video gaming. Extensive meeting and event spaces make it a popular venue for weddings, corporate gatherings, and social events. Six buildings, each with eight rooms accessible via outdoor corridors, comprise the property, which also includes ample parking and green spaces. This turnkey operation offers immediate revenue growth potential with a loyal customer base and experienced staff. The property's financial documents are available for review.

    Property Features for 1907 Cunningham Ave

    General Information

    Property type
    Hotels

    Building Details

    Year Built/Renovated
    1966/2011

    HighLights

    • $9,000,000 asking price for a 127‑key hotel.
    • Built in 1966, renovated in 2011.
    • Annually generates $2.9M - $3.1M in revenue with high occupancy rates.
    • Features 127 spacious guest rooms and suites, many with full kitchens.
    • Offers resort‑style amenities including an indoor pool, fitness center, and whirlpool tubs.
    • Includes extensive meeting and event spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Eastland Suites Hotel ... Extended Stay Hotel Holiday Inn Express ... Lodging Eastland Suites Middle ... Hotel

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.1980239
    Latitude
    40.1319462

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    FAQs

    What type of property is this?
    Hotel - Profitable Hotel, Prime Location
    Where is this hotel located?
    The property is located at 1907 Cunningham Ave Urbana, IL.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: $9,000,000 asking price for a 127-key hotel.; Built in 1966, renovated in 2011.; Annually generates $2.9M - $3.1M in revenue with high occupancy rates.
    Request Owner's contact information
    1907 Cunningham Ave Urbana, IL 61802
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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
    1907 Cunningham Ave Urbana, IL 61802
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