Marcus & Millichap closed the sale of 1500 E. Dundee Road, a former hotel and athletic complex in Palatine, Illinois.
Ebrahim Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor group. Valliani collaborated with Derek Schuster of Marcus & Millichap’s Auction Services to market the asset and secure the buyer. The transaction received additional support from Michael Klar, Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The property spans 6.11 acres and includes a six-story, 181-room hotel and a 60,000-square-foot athletic complex. Originally built in 1980, the hotel features a lobby, breakfast room, pantry kitchen and laundry facilities, while the athletic complex includes a fieldhouse, health club, racquetball courts, indoor pool and 10,800 square feet of meeting and event space with direct access to the hotel tower. Located at the corner of Illinois Route 53 and Dundee Road, the site offers direct access to Interstate 90, O’Hare International Airport and downtown Chicago. It is also a seven-minute drive from the potential future Chicago Bears stadium.
