Catylist ID: #30583596
Downtown Rockford Hotel
Retail-Commercial for Sale
|Catylist Listing ID:||30583596|
|Property Subtypes:||Free-Standing Building, Street Retail, Other|
|Building Size (RSF):||36,744 SF|
|Gross Land Area:||10,324 SF|
|Unit Price:||$17.69 PSF|
|Property Use Type:||Business|
|Building Name:||Lafayette Hotel|
|Usable Size (USF):||36,744 SF|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||90|
Overview / Comments
Unique opportunity to own a profitable hotel in downtown Rockford.
Built in 1927, The LAFAYETTE HOTEL has operated continuously with an average 90% occupancy and strong cash flow.
66 total rooms. 25 are apartments, the balance are standard hotel rooms.
The Mandalay Lounge is a full bar on the first floor. Three additional storefront spaces available for lease.
The building is in excellent condition. New roof in 2015, new boiler. All systems regularly inspected and are up to date.
Owner is retiring but will assist with the transition to the new owner/operator.
|Taxing Authority:||Winnebago County, IL|
|Retail Clientele:||General, Other|
|Property Located Between:||Corner of Mulberry and N. Church St.|
|Feet of Frontage:||156|
|Airports:||Chicago/Rockford International Airport|
|Area Description:||Property is located one block from the Winnebago County Courthouse at the corner of N. Church St. and Mulberry.|
|Total Number of Buildings:||1|
|Number of Stories:||4|
|Exterior Description:||Vintage terra cotta facade in excellent condition with recent tuck pointing.|
|Parking Description:||Three parking spaces adjacent to the property. On street parking available.|
|Heat Type:||Natural Gas|
|Proximity:||1 mile||3 miles||5 miles|
Brad BenedictGAMBINO REALTORS CMCPEX Member
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