Rodeway Inn sells for $1.75 million
JOLIET -- Marcus & Millichap said it has sold Rodeway Inn, a 63-room, interior corridor hospitality property in Joliet, for $1.75 million, according to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office.
Rodeway Inn is located at 1730 McDonough St., near the Interstate 80 and Highway 7 interchange. The investment provides the new investor a value-add opportunity with plans for an extensive renovation and conversion to another major national hotel brand in the future.
Ebrahim Valliani, a senior associate, Allan Miller, senior vice president investments, Chris Gomes, senior managing director investments, in Marcus & Millichap's Chicago Oak Brook, Dallas and Austin offices, exclusively marketed the property on behalf of the seller. The buyer was represented by Miller, Gomes and Valliani.