Skokie Hotels

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Listings in the Hotels category

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Comfort Inn
Phone: 847-679-4200
9333 Skokie Blvd
Skokie, IL   60077

Website: http://www.comfortinn.com/hotel-skokie-illinois

Doubletree Hotel North Shore
9599 Skokie Blvd
Skokie, IL   60077-1314
Extended Stay America
5211 Old Orchard Rd
Skokie, IL   60077
Hampton Inn And Suites-Chicago North
5201 Old Orchard Rd
Skokie, IL   60077
Holiday Inn Northshore
5300 Touhy Ave
Skokie, IL   60077-3246
Howard Johnson Hotel
9333 Skokie Blvd
Skokie, IL   60077-1310
Rosen Hotels and Resorts
9301 Kenton Ave
Skokie, IL   60076-1381
The Hampton Inn
5201 Old Orchard Rd
Skokie, IL   60077-1021
Ubaa Old Crawford Inn
9956 Crawford Ave
Skokie, IL   60076-1108

Skokie, Illinois Hotel Prices In The 2007 Market Mean Good News For Investors

The Skokie, Illinois hotel market is booming. Investors are seeing that hotels in Chicago and Skokie, Illinois are a great money making opportunity and are building them up as fast as they are filling up.

Chicago hotel prices in the 2007 market continue to stay strong. In 1998, the average hotel had 752 rooms that were selling at an average of $250,000. In 2006, the average hotel had 6,397 rooms with an average price of $193,000.

Room prices have increased about 13%. Combined with the lower selling prices of hotels this makes for an excellent market.

By the end of 2006, 15 hotels were sold for a combined price of $1.2 billion. This is expected to be seen again, if not topped in 2007.

The market is exceptional. Investors are making more then their fair share of profit off their purchase.

Hotels have always been a favored asset by real estate investors, but the Chicago hotel market is a flurry of activity.

Chicago and the village of Skokie, Illinois are busy places. With expansion and improvements at O’Hare International Airport, business travel through the city is expected to soar. This means more occupants at the local hotels.

Additionally, Skokie, Illinois has always experienced a good tourist turn out despite the season. In recent years it is a great weekend getaway spot.

Skokie, Illinois offers a mixture of attractions that draws in the crowds, all who are on the lookout for a hotel room. This helps to keep hotels full and investor’s pockets just as full.

The only major issue with the Chicago and Skokie, Illinois hotel market is that this great trend is producing a lot of competition. There are many new hotels slated for construction.

Current developers and owners are hoping that construction costs stay high and keep new developers out.

Another trend is flipping properties because the value is rising steadily. Investors can afford to buy a hotel and quickly flip it for a nice profit, instead of a loss.

As the market continues to grow, there is no doubt it will just get better. Lenders are even on board, offering major financing to back purchases.

Some lenders are offering as much as 80% financing. This is obvious proof that the market is flourishing.

The Chicago hotel prices for the 2007 market are looking as good as ever. With room rates up and hotel selling prices down, it is a great market. Investors are getting everything they’ve desired and are hungry to keep going.