Updated Sep 9, 2024
Marcus & Millichap Represents Buyer In $7.5M Sale At 2120 S Arlington Heights Rd Arlington
2120 S Arlington Heights Rd, Arlingto...
$7,500,000
Building Size
—
Asset Type
Hotel
Closing
Aug 22, 2019
About this deal
AI
The asset involved in the transaction is the Comfort Inn, a 125-room hospitality property located at 2120 S. Arlington Heights Road in Arlington Heights, Illinois. The hotel is categorized as upper midscale and features three stories with elevator service, a business center, fitness center, dry cleaning services, and meeting rooms. The transaction was completed for $7,500,000.
Summary of transaction details:
- Property Type: Hospitality
- Transaction Amount: $7,500,000
- Address: 2120 S Arlington Heights Rd, Arlington Heights, IL
- Market: Arlington
- Buyer: Unknown
- Seller: Unknown
- Buyer's Representative: Allan Miller (Marcus & Millichap), Christopher (Chris) Gomes (Marcus & Millichap)
The sale was marketed exclusively by Ebrahim Valliani, first vice president investments, and Michael Klar, an associate, along with Allan Miller and Chris Gomes from Marcus & Millichap’s Chicago Oak Brook, Dallas, and Austin offices. They represented both the seller and the buyer in this transaction.
Players
Arlington Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93