Marcus & Millichap brokered the sale of a 145-room Motel 6 property located in Arlington Heights, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $5,050,001.
Ebrahim Valliani, vice president, Allan Miller, senior vice president, and Chris Gomes, senior managing director, investment specialists in Marcus & Millichap’s Chicago Oak Brook, Austin and Dallas offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Valliani, Miller, and Gomes.
The Motel 6 is located at 441 W. Algonquin Road, nine miles from O’Hare International Airport. This 145-room, interior corridor, economy hotel is a value-add opportunity for the investor.