REIT Xenia Hotels & Resorts Sells 191-key Hotel In Chicago For $36M
SOLD
$36,000,000
Illinois
See Similar DealsHotel159,400 SF
Sold 12/05/2021
SOLD
REIT Xenia Hotels & Resorts Sells 191-key Hotel In Chicago For $36M
225 North Wabash Avenue, Chicago, IL 60601, USA
See Similar DealsHotel159,400 SF
Sold 12/05/2021
Summary
ILLINOIS
Asset Type:Hotel
Price Per Square Foot:$225
Total Square Footage:159,400 SF
Transaction Type:Sale
The hotel located at 225 N Wabash Ave in Chicago is currently in contract. The property, owned by REIT Xenia Hotels & Resorts, is being sold for a price of $36,000,000. It consists of 191 keys, with a price per key of $188,481.
Summary of Transaction Details
- Property Type: Hotel
- Transaction Amount: $36,000,000
- Address: 225 N Wabash Ave, Chicago
- Market: Chicago
REIT Xenia Hotels & Resorts is the seller in this deal. The hotel has a total of 191 keys, and the price per key is $188,481.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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