Listings

Summary:

Great opportunity to purchase a longstanding profitable motel. That offers both short-term accommodations and long-term tenancies. Short-term rates of $50 per night for a single room and $60 for a double, as well as weekly rates of $300 and $350 respectively. Also available for monthly and longer-term rentals!

Features a single-story building with a total of 11 units divided into 5 single rooms, 5 double rooms and a spacious 2-bedroom apartment complete with bathroom, living room and kitchen. The apartment is ideal for an onsite owner or manager. The facility also includes a small office area. Plus, the motel boasts an extensive parking area and a grassy space behind the building, ideal for guest relaxation.

Well established motel for over 40 years. Independent - no royalty, advertising or transfer fees. Family owned and operated.

This is an excellent chance for someone ready to take this longstanding establishment to new heights, building on its legacy or exploring new avenues for success:

Option To Evolve Into A Boutique Hospitality Establishment: For those interested in maintaining the hospitality function of the site, transforming the property into a boutique hotel or bed & breakfast represents an exciting venture. This would involve an upscale renovation to modernize and personalize the guest experience. Such a project would be subject to adherence to residential zoning restrictions, ensuring that any hospitality use is permissible within the Special Use framework.

Potential For Apartment Conversion: One possible direction for this property, within the bounds of its zoning, is the conversion into studio or efficiency apartments. The existing structure, comprising 11 units with a mix of single, double rooms and a 2-bedroom apartment, lends itself to be transformed into residential apartments. This would cater to market demands for compact, affordable living spaces, appealing to individuals or small families. Of course, any redevelopment plan would need to respect local zoning and building codes, ensuring that any modifications enhance the property's value and utility within the community.

Or Convert To A Community-Oriented Project: The site's generous outdoor space and adaptable accommodation layout also offer potential for community living or co-housing developments. These projects focus on creating interconnected living spaces around shared amenities, promoting a sense of community and shared values. Any move towards this type of development would require careful consideration of zoning allowances and community impact.

Option To Transform To Educational or Non-Profit Use: Leveraging the property for educational or non-profit purposes could be explored, provided such use is compatible with the residential (Special Use) zoning. This could involve collaborations with educational institutions or non-profit organizations to create a space for learning, community engagement, or housing related to these activities.

Also The Potential For A Mixed-Use Development: Another consideration, pending local zoning approval, is a mixed-use development that combines residential and commercial elements. This approach would diversify the use of the property, potentially enhancing its contribution to the community and increasing its economic viability. The feasibility of this option would depend on a detailed understanding of the specific limitations and opportunities presented by the Special Use zoning designation.

Lastly A Redevelopment Opportunity: Offers a remarkable opportunity for investment or redevelopment within its current zoning designation as residential (Special Use). This unique categorization opens the door for a variety of uses, subject to compliance with local zoning ordinances and regulations. The expansive .89-acre site provides a versatile foundation for potential projects.

Competition:

Currently 5 long term tenants. Low expenses. Property in good working order. A staple in the community for four decades. Consistently occupied. Stable income. Great investment property!

Growth and Expansion:

A well-established business with room for innovation and expansion. Offers a solid financial foundation, potential for growth with improvements, promotion and advertising, plus increased profitability with hand-on management.

Also, the option to evolve into a boutique hospitality establishment. Potential for apartment conversion. Or convert to a community-oriented project. Option to transform to educational or non-profit use. Plus, the potential for a mixed-use development. Lastly, a redevelopment opportunity!

Location:

Prime retail space in a freestanding building in the heart of Rochelle. Adjacent Meyers Furniture & Flooring. On Powers Rd (I-39 ALT) by Scott Ave/E Twombly Rd. Near the Route 38 (I-39 ALT) and I-39 interchange. And close to Lincoln Elementary School, Rochelle Township High School and Rochelle Community Hospital!

County: Ogle

Facilities:

Property Information: One-story freestanding building with parking for 15 vehicles. On .89 acres. Built in 1957. New roof 12 years ago. Recently re-paved parking lot.

Square Feet: 3,684.

Days/Hrs of Operation: 24/7.

Real Estate: Leased.

Value of FF&E: Included In Asking Price.

Value of Inventory: Not Included In Asking Price.

Seller Financing Available: No.

Reason for Selling: Retiring.