Marcus & Millichap Real Estate Investment Services has the exclusive listing to market the Holiday Inn Hotel & Suites Bloomington-Airport, a 126-room full-service hotel in Bloomington located adjacent to the Central Illinois Regional Airport. The list price of $18 million equates to a 9.3 percent cap rate on the trailing 12-month income.
Jim Walsh, senior vice president investments in Marcus & Millichap’s Chicago downtown office, Gordon Allred, vice president investments in the firm’s Ontario, Calif., office and Brent Bradshaw, an associate in Indianapolis, are representing the seller, a local developer.
The hotel is located at 3202 E. Empire St. just off Interstate 55 in Bloomington.
The Holiday Inn Hotel & Suites Bloomington-Airport was built in 2007 on 5.5 acres. The hotel features a well-planned mix of nonsmoking rooms, more than 5,000 square feet of meeting/exhibition space, an indoor pool, hot tub and both wired and wireless Internet access.
The Central Illinois Regional Airport has daily flights to Atlanta, Chicago, Dallas-Ft. Worth, Detroit, Minneapolis-St. Paul and beyond.
Bloomington is the larger of the two principal municipalities in the Bloomington-Normal metropolitan area.
