Marcus & Millichap has sold the 62-room Super 8 by Wyndham hotel and the adjacent detached restaurant building in Mount Vernon, Ill. Other terms and conditions were not disclosed.
“The buyer acknowledged significant value in the detached restaurant building and plans to incorporate it into their growing hotel portfolio,” Kristen Blackshaw, associate investments, said in a statement. “They are taking a more hands-on approach to operations and see meaningful upside in the asset. Clear communication among the brand, lender, and all parties involved was instrumental in bringing the transaction to a successful close.”
Blackshaw, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors. The transaction received additional support from Ebrahim Valliani, Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.
The three-story hotel has 62 guestrooms and is situated at the intersection of Interstates 57 and 64. The property includes updated guestrooms and a breakfast area, with the restaurant building located adjacent to the hotel.