CBRE Hotels has completed the sale of the 71-room Sleep Inn Chicago South located at 18420 Spring Creek Drive in Tinley Park. Platinum Hospitality sold the property to Jai Ambe Properties LLC who retained the Sleep Inn franchise.
The four-story Sleep Inn opened in 2000 and received comprehensive renovations at the end of 2011. The hotel benefits from its high barrier to entry location with deed restrictions for further hotel development as well as its highway access off Interstate 80, 20 miles from downtown Chicago.
The CBRE Hotels’ Chicago team consisted of senior vice presidents Nate Sahn and James Johnson who represented the seller in the transaction. The team also represented Platinum Hospitality in the sale of the adjacent Comfort Inn & Suites Tinley Park in January 2014.
“The fully renovated Sleep Inn represented a great acquisition for new ownership who should continue to benefit from a growing local economy and strong revenue growth,” Sahn said.
