Marcus & Millichap brokers the sale of The Trail Inn, a 36-room hotel property located in Atlanta, Ill. Other terms and conditions were not disclosed.
"There was an instant market for this hotel; the sellers did a fabulous job renovating it, and it didn’t go unnoticed," Associate Kristen Blackshaw said in a statement. "This is the perfect opportunity for a first-time hotelier to enter the market and gain experience on a smaller scale."
Blackshaw, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. The transaction received additional support from Ebrahim Valliani, Allan Miller and Chris Gomes of the firm’s Miller-Gomes hotel team.
The Trail Inn is a one-story hotel with 36 rooms, located on 2 acres. The hotel is visible and accessible just off Interstate 55, which sees an annual average daily traffic count of just over 23,000 vehicles. Property amenities include a lobby area with seating, a guest laundry facility and ample parking. Ownership invested more than $275,000 in improvements, including furniture and flooring renovations, PTAC unit replacements, a new fire alarm system, mag-lock entry and a full repainting of rooms and common areas.