Marcus & Millichap arranged the sale of the Four Points by Sheraton Chicago O’Hare Airport hotel in Schiller Park, Ill. Other terms and conditions were not disclosed.
“This asset’s proximity to O’Hare International Airport made it a highly attractive opportunity for investors seeking long-term value,” Ebrahim Valliani, managing director investments, said in a statement. “With plans for an interior renovation in the coming months, the property is well-positioned to capitalize on the continued strength and growth of the O’Hare hotel market.”
Valliani, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller and procured the buyer, both private investors. The transaction received additional support from Allan Miller and Chris Gomes of the Miller-Gomes Hotel Team.
Located at 10249 W. Irving Park Road, the seven-story, 295-room hotel is a Marriott International-branded Four Points by Sheraton. The property is adjacent to Chicago O’Hare International Airport, just off Interstate 294. On-site amenities include an indoor pool, fitness center, restaurant, meeting space and convenience store. Nearby attractions include Rivers Casino, the Donald E. Stephens Convention Center, the Allstate Arena and Schiller Woods.