Marcus & Millichap has sold aHoliday Inn Express & Suites hotel property in Prospect Heights, Ill. Other terms and conditions were not disclosed.
“This deal came together swiftly thanks to the buyer’s established relationship with their lender, which streamlined financing and allowed for an efficient closing process,” Ebrahim Valliani, managing director investments, said in a statement.
Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and procured the buyer, both private investor groups. The transaction received additional support from Allan Miller, Chris Gomes, Michael Klar and Kristen Blackshaw of the Miller-Gomes Hotel Team.
The Holiday Inn Express & Suites Prospect Heights is a five-story, 108-room hotel. The hotel is less than 15 miles from O’Hare International Airport and has a fitness center, business center, meeting space and a breakfast area. The hotel benefits from proximity to major attractions, including the Chicago Botanic Garden, Ravinia Festival, Northbrook Court, Six Flags Great America and the Fashion Outlets of Chicago in Rosemont.