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2 Arlington Heights hotels sold

Two hotels in Arlington Heights, which were recently renovated, were sold, a real estate broker said Thursday.

The Holiday Inn Express Chicago NW-Arlington Heights, at 2111 S. Arlington Heights Road, and the Comfort Inn Chicago-Arlington Heights, across the street at 2120 S. Arlington Heights Road, were valued together at $16 million. But the sale price was not immediately disclosed by CBRE, which arranged the sale. The deals closed around June 19.

"The sellers and their investors bought the hotels with the intention to renovate, improve and sell over a 3- to 5-year period," said CBRE spokesman Mark Thornton.

Agrani Heights LLC, which owned the 111-room Holiday Inn, sold it to Izabella HMC-CI LLC. Agrani also sold the 125-room Comfort Inn to SHG 2120 Arlington Heights LLC.

Agrani Heights, led by managing members Ajay Barot and Parin Patel, purchased both hotels five years ago and did multimillion dollar renovations in 2015. Both hotels updated their guest rooms, corridors and other areas.

The Holiday Inn Express left the property at 2120 S. Arlington Heights Road in May 2015 and the Comfort Inn took over its vacant property. The Holiday Inn Express then took over the former Jameson Hotel across Arlington Heights Road.

Holiday Inn swaps sites, new Comfort Inn opens in Arlington Heights

The Comfort Inn on Arlington Heights Road was recently sold. DAILY HERALD FILE PHOTO 2015
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