Hotel Source Sells Stratford Inn - Sycamore, IL
CHICAGO - July 18, 2011 - Hotel Source, Inc. completed the sale of the lender-owned, historic Stratford Inn, located in downtown Sycamore, IL. This full-service boutique hotel was purchased by a private operator from Plank Road, LLC. Steve Marx and Seth Glickman of Hotel Source, Inc. handled the sale.
The hotel was sold at a 2.9 Room Revenue Multiplier. The historic boutique hotel was built in 1926. The Stratford Inn contains a restaurant, lounge, meeting space and a large banquet hall. The new owner of the hotel plans to complete extensive renovations to the property.
Sycamore, Illinois is located 65 miles west of Chicago and is easily accessed by Interstate-88. Local Nestle, Target and 3M distribution centers as well as the close proximity to Northern Illinois University help support the surrounding communities.
Hotel Source, Inc. is a hotel real estate brokerage and advisory services firm that leverages its transactional expertise and experience as a hotel owner and receiver to create responsive solutions to the challenges of buying, owning and selling hotels.
For further information, contact Steve Marx or Seth Glickman at 312 362 0624.