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640 N Wabash Ave
Chicago, IL 60611 River North

Price Upon Request

Hotel For Sale  •  55,538 SF

Property Details

  • Property Type Hotel
  • Total Building Size 55,538 SF
  • Lot Size 0.11 AC
  • Building Class B
  • Year Built 1927
  • Zoning DX-12
100 Transit Score
100 Walk Score

Highlights

Fee-simple interest in the institutionally managed and lender owned 174-key Holiday Inn Express Chicago – Magnificent Mile.
Available in the March 20th auction event via Ten-X.
Value add opportunity after the hotel re-opened May 2023 following COVID-induced shutdown and foreclosure.
Significant recent capital upgrades and improvements to the property.
Significant operational upside exiting lender control and more hands-on stabilization of operations.
Ability to retain the Holiday Inn Express brand with a new long-term license agreement with IHG.

Amenities

  • Business Center
  • Fitness Center
  • High Speed Internet Access
  • Public Access Wifi
  • Smoke-Free

Public Transportation

Commuter RailDriveWalkDistance
Millennium Station (Metra Electric - Metra) 3 min 15 min 0.8 mi
Chicago Otc (Union Pacific North - Metra, Union Pacific Northwest - Metra, Union Pacific West - Metra) 4 min - 1.5 mi
Transit/SubwayDriveWalkDistance
Grand Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L")) 0 min 4 min 0.2 mi
Chicago Avenue Station (Red Line) (Red Line - Chicago Transit Authority "L" Trains (The "L")) 0 min 5 min 0.3 mi
Chicago Avenue Station (Brown, Purple Lines) (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 11 min 0.6 mi
Merchandise Mart Station (Brown Line - Chicago Transit Authority "L" Trains (The "L"), Purple Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 13 min 0.7 mi
AirportDriveWalkDistance
Chicago Midway International 20 min - 12.1 mi
Chicago O'Hare International 28 min - 17.5 mi