Hotel/Motel


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Location: 814 E Walnut Street, Watseka, IL, 60970
UPCOMING AUCTION  Bidding period to be scheduled

26 Room Motel with Single Family Home in Watseka, IL

Suggested Opening Bid: $350,000

Buyer's Premium: 6%

Cooperating Broker's Commission: 2%

Year Built: 1980

Lot Size: Approx. 1.74 Acres

Building Size: Approx. .08 FAR/Approx. 6,000 SF

Rooms: 26

Room Size: Approx. 250 SF (each room)

SFH: 4 Bedrooms & 2 Bathrooms

Parking Spaces: 27

2018 Taxes: $6,345.82

PIN #: 19-33-451-007

NOI: Approx. $119,499.18

Zoning: B-4

This 26 room motel is currently operating with some queen size rooms to accommodate 2 guests and some quadruple rooms to accommodate 4 guests. Each room has air conditioning, and cable TV. There is a single family home on the property with 4 bedrooms and 2 bathrooms which can be used for an on-site manager quarters.

Restaurants nearby include Steak 'n Shake, Subway, Taco Bell and Dairy Queen.

Local nearby attractions include the Iroquois County Historical Society Old Courthouse Museum, Watseka Park District, and the Covered in Paint Art Studio.

Watseka is 15 miles west of the Illinois-Indiana state line on U.S. Route 24. The motel is located off of U.S. Route 24 near IL-1 and US-52.

**3 STEPS REQUIRED TO REVIEW PROPERTY DOCUMENTS IN THE VAULT: 1) REGISTER ON OUR WEBSITE; 2) GO TO THE DOCUMENTS TAB, CLICK ON DOCUMENT & ACCEPT THE CONFIDENTIALITY AGREEMENT TERMS BY ENTERING YOUR PASSWORD; 3) DOWNLOAD THE DOCUMENT 

View Terms and Conditions (PDF)

View Purchase and Sale Agreement (PDF)

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Location: 604 West Ludington Avenue, Ludington, MI, 49431
THIS AUCTION IS CLOSED

MOTEL: Ventura Motel in Ludington, Michigan

New Suggested Opening Bid: $550,000 (Reduced from $560,000) 


Buyer's Premium: 6%

Cooperating Broker's Commission: 2%

Lot Size: Approx. .62 Acres

2015 Taxes: $14,133

PIN #:  53-051-105-211-00

Zoning: M-R; Motel Resort District

Just two blocks from downtown Ludington, this motel features 25 rooms with king & queen beds, guest controlled heat, and air-conditioning, and some luxury rooms with heart-shaped in-room whirlpools. Room features: full Cable TV with HBO, refrigerator, freezer available for fisherman to store their catch.

Walking distance from marinas, boat launches, fishing piers, charter boats, two waterfront playgrounds, mini-golf, Stearns Park Beach on Lake Michigan, Ludington's North Breakwater lighthouse, shopping, dining, entertainment, downtown events like sidewalk sales, "Friday Night Live" and "Movies in the Park".

Cooperating Broker Licensed in the State of Michigan: Coldwell Banker License #6505354670; Louis Price License #6502354670

2015 P & L

Gross Sales: $180,300
Property tax: $14,133
Insurance: $4,970
Utilities: $20,190

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