Marcus & Millichap Represents Buyer In $1.75M Sale At 1730 McDonough St Joliet
1730 McDonough St, Joliet, IL, 60436
$1,750,000
Building Size
—
Asset Type
Hotel
Closing
Jul 19, 2019
About this deal
AI
The property asset involved in the transaction is located at 1730 McDonough St, Joliet, IL, 60436. It is identified as the former Rodeway Inn, a 63-room, interior corridor hospitality property. The transaction was completed for $1,750,000.00, and the property has a square footage of 0.
Summary of transaction details:
- Property Type: Hospitality
- Transaction Amount: $1,750,000.00
- Market: Joliet
- Buyer's Representative: Allan Miller - Marcus & Millichap
- Buyer's Representative: Christopher "Chris" Gomes - Marcus & Millichap
- Buyer: Unknown
- Seller: Unknown
The deal was exclusively marketed on behalf of the seller by Ebrahim Valliani, Allan Miller, and Chris Gomes, all from Marcus & Millichap’s Chicago Oak Brook, Dallas, and Austin offices. Valliani, Miller, and Gomes collaborated with Jake M. Erickson and Jared Plamann from the firm’s Minneapolis office to facilitate the related transaction of the Comfort Suites in Schiller Park.
Players
Joliet Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
Loading comparables…
Deal FAQ
Browse Illinois hotel sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93