45 103rd St, Chicago, IL 60628-2605

The Imperial Motel, a 40-key exterior corridor motel, presents a compelling investment opportunity in Chicago, Illinois. Located at 45 W 103rd St, in Cook County, this property boasts a strong 75% occupancy rate and a compelling asking price of $1,900,000, translating to $46,195 per key. The motel's 13.31% capitalization rate signifies significant potential for return on investment. Situated on approximately 0.76 acres of land, the property offers substantial upside potential for future development. Its strategic location on the bustling 103rd Street provides convenient access to key demand generators. These include Chicago Midway Airport, a mere 12.4 miles away, and a Metra station just 1 mile from the property, ensuring consistent guest traffic. The sturdy brick building is currently operating as a limited-service motel, making it an ideal candidate for affiliation with a budget-friendly hotel flag. This presents an excellent opportunity for investors seeking a high-yield hospitality asset in a dynamic Chicago location with potential for growth and expansion. The zip code is 60628.