Ted Aretos
This listing was posted on RealtyWW.
$399,000
Home For Sale In Rochelle, Illinois
Price:
$399,000
BR/BA:
3 BA
Location:
205 Powers Rd, Rochelle, IL
Description:
Nestled in the heart of Rochelle, IL, at 205 Powers Rd, this cherished family-owned motel presents a unique investment opportunity. For over four decades, this property has been a staple of hospitality, offering both short-term accommodations and long-term tenancies. Situated on a generous.89-acre lot, it features an expansive parking area and a serene, grassy space behind the building, ideal for guest relaxation or potential expansion. The motel spans 3, 684 square feet, with a total of 11 units divided into 5 single rooms, 5 double rooms, and a spacious 2-bedroom apartment, complete with a bathroom, living room, and kitchen. This apartment offers a perfect living solution for an onsite owner or manager, blending business with comfort. The facility also includes a small office area to facilitate smooth operations. Financially, this property has consistently demonstrated solid performance, with normal annual income ranging from $60, 000 to $70, 000. This is supported by a blend of short-term room rates-$50 per night for a single room and $60 for a double, with weekly rates of $300 and $350 respectively-and monthly rentals to long-term tenants. These tenants, five in total, contribute significantly to the motel's stability and income, with annual rent from regular tenants alone amounting to $53, 160, before even considering motel rentals. The property's expenses are well managed, with total costs in 2023 (including property taxes) amounting to $21, 921.81, leading to an average annual profit between $40, 000 and $50, 000 for the owners. It boasts a new roof installed 12 years ago and well-maintained mechanical systems, ensuring that the next owners will inherit a property in good working order. Located at 205 Powers Rd, Rochelle, IL 61068, this motel not only offers a solid financial foundation but also potential for growth. Whether maintaining its current operation, enhancing its promotion and advertising, or converting it into studio/efficiency apartments, the possibilities are vast. This opportunity is particularly appealing for those looking to step into a well-established business with room for innovation and expansion. The current owner, seeking retirement after years of dedication, has managed the property with minimal onsite presence, highlighting a significant opportunity for improvement and increased profitability for hands-on management. This is an excellent chance for someone ready to take this longstanding establishment to new heights, building on its legacy and exploring new avenues for success. In summary, 205 Powers Rd offers a blend of tradition, potential, and financial stability, making it an attractive proposition for anyone looking to invest in the hospitality industry or explore the realm of property management and development.For more details: https://realtyww.info/homes_rochelle-d559089/for-sale_i70239021
Property Type:
Single-Family Houses
Sq feet:
684 sq. ft.
Amenities:
Parking
Posted:
April 4 on RealtyWW
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More About this Listing: Home For Sale In Rochelle, Illinois
Home For Sale In Rochelle, Illinois is a 3.5 Bath Single-Family Homes for Sale at 205 Powers Rd in Rochelle IL. Find other listings like Home For Sale In Rochelle, Illinois and listings near 205 Powers Rd by searching Oodle Classifieds for 3.5 Bath Single-Family Homes for Sale in Rochelle IL.
Home For Sale In Rochelle, Illinois is a 3.5 Bath Single-Family Homes for Sale at 205 Powers Rd in Rochelle IL. Find other listings like Home For Sale In Rochelle, Illinois and listings near 205 Powers Rd by searching Oodle Classifieds for 3.5 Bath Single-Family Homes for Sale in Rochelle IL.