REBusinessOnline

MARCUS & MILLICHAP BROKERS 140-ROOM HOTEL TRANSACTION

URBANA, ILL. — Marcus & Millichap has brokered the sale/acquisition of Park Inn, a 140-room motel/hotel property located at 2408 N. Cunningham Ave. in Urbana. Amenities at the facility, which is situated within minutes of the University of Illinois, include an outdoor pool, a fitness center and 6,000 square feet of meeting space. The asset commanded a sales price of $2.1 million. The buyer and seller were not disclosed. Brian Fay and Scott Clawson in the downtown Chicago office of Marcus & Millichap represented both parties in the transaction.

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