MCR Adds Chicago-Area Hilton to Portfolio
The acquisition of the 120-key property closed at $12.8 million. The hotel opened in 2012 and is located in Mount Prospect, Ill.
By Roxana Baiceanu
Hampton Inn, Mount Prospect, Ill.
MCR, which recently opened a $21 million Marriott-Ft. Lauderdale hotel, expanded its presence in Illinois by acquiring a 120-key Hampton Inn & Suites by Hilton in Mount Prospect. The transaction closed at $12.8 million, a price “well below replacement cost,” as MCR’s CEO & Managing Partner Tyler Morse said in a statement.
The property is located at 999 N. Elmhurst Road within the one million-square-foot open-air lifestyle center Randhurst Village. It is close to several shopping, dining and entertainment venues as well as the offices of major employers such as Mizkan, NTN Bearing, Allstate Insurance and ITW. A satellite office of CVS Caremark, which counts 1,400 employees, is also situated nearby.
The hotel provides several amenities such as a covered garage parking, an indoor pool, fitness center, a conference room for up to 70 people, a 24-hour business center and convenience store. Rooms are equipped with 37-inch flat-screen TVs and coffeemakers. A free breakfast is also included in the price.
Image courtesy of MCR
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