$399,000 $2,142 est/mo Sourced by Back At You

205 Powers Road,Rochelle, IL 61068

Rochelle IL, 61068

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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.

Details

MLS#12019388
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1957
Days On Site50
Listing Provided ByEatZ Real Estate Group LLC | Theodore Aretos

Features

Story(s)1
Units11
Acreage0.89

Market Activity 61068

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Learn More About This Property

StateIL
CountyOgle
CityRochelle
Zip Code61068
AreaFlagg Center | Hillcrest | Kings | Rochelle
Listing VS Median (in 61068)
Price:
$399,000
low | high
Med:
$249,950
87.355889724311% of Average
On Site:
50
low | high
Med:
220.500000
22.675736961451% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 8:01:36 PM PDT