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Capital O Empire Motel Chicago I-94 7621 S Cottage Grove Ave 35 Room Hotel Chicago, IL 60619 $3,193,550 CAD ($91,244 CAD/Room)

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EXECUTIVE SUMMARY

3-Story California-style exterior corridor motel offering 34-rooms, built in 1974, with separate restaurant building positioned at the front of the property, main-level parking, total land area 13,392 Sq. ft. total building 18,000 Sq. ft. located in the well-established Chatham neighborhood on Chicago’s South Side, offering a compelling rehab, redevelopment and potential revenue-generating. Non-franchise motel license”. Significant value-add, the City of Chicago does not issue new non-franchise motel licenses. Walking distance to retail, services, and neighborhood amenities. Strong traffic counts. Approximately 1-mile east of the Dan Ryan Expressway, and about 3 miles from the Obama Presidential Library. Situated within the Greater Chatham Initiative – 87th Street Corridor Improvement Zone. City of Chicago support through Grants & TIF funding. Eligible for façade improvements and full building renovation grants. Property qualifies for significant public incentives, with potential of reducing capital outlay and increasing ROI. Below link provides information about the City of Chicago website offering grants.
https://www.dropbox.com/scl/fo/ujpf58up1jq7os69pildc/ACnoCYjwEJUZ_LnvXzN3XKA?rlkey=3zti12qmch93824o7yjsayiln&dl=0

Cottage Grove Ave. 7621

PROPERTY FACTS

Price	$3,193,550 CAD	Building Size	17,754 SF
Price Per Room	$91,244 CAD	No. Rooms	35
Sale Type	Investment	No. Stories	2
Sale Condition	Distress Sale	Year Built	1992
Property Type	Hospitality	Parking Ratio	0.37/1,000 SF
Property Subtype	Hotel	Corridor	Exterior
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	0.31 AC
Zoning	C2-2

Price	$3,193,550 CAD
Price Per Room	$91,244 CAD
Sale Type	Investment
Sale Condition	Distress Sale
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	0.31 AC
Building Size	17,754 SF
No. Rooms	35
No. Stories	2
Year Built	1992
Parking Ratio	0.37/1,000 SF
Corridor	Exterior
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C2-2

Restaurant

High Speed Internet Access

Public Access Wifi

ROOM MIX INFORMATION

DESCRIPTION	NO. ROOMS	DAILY RATE	SF
Guest Room	35	$80.53 CAD	-

1 1

Walk Score®

Very Walkable (84)

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Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Numbers	Multiple 20-26-308-003-0000 20-26-308-005-0000 20-26-308-052-0000 20-26-308-006-0000 20-26-308-004-0000	Improvements Assessment	$745,972 CAD
Land Assessment	$46,865 CAD	Total Assessment	$792,836 CAD