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About the Listing 2050 - 257659,252044,99999
Incredible investment opportunity at the Country Motel located at 33950 W Hwy 45 in Gages Lake, IL. This 11-room motel is centrally located between Chicago and Milwaukee and directly adjacent to the College of Lake County, offering excellent potential for student housing conversion. The property generated $171,000 in revenue and $110,000 in NOI in 2024, with current owners operating efficiently and maintaining a strong local reputation. The owner's suite can be converted into a 12th unit, and nightly rates currently average just $70, presenting significant value-add potential. Ideal for investors seeking cash flow with multiple repositioning options including long-term rentals, Airbnb, or continued motel use. Conveniently located near Six Flags Great America, Gurnee Mills, Lake Michigan, and major employers.
Listing Highlights
Status
Pending
Days on Site
166
Property Type
Business Opportunity
MLS ®
12426734
Year Built
Total Square Footage
6,270
Lot/Acreage
0.82
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating: Central Bldg Heat
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 0.82 ACRES
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $14,508
- Taxes w/Assessments: N/A
- Tax/Property ID: 07301010120000
- Tax Year: 2024
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
33950 N Us Highway 45 Hwy Grayslake, IL 60030
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