1824 E Main Street

Description

Positioned at the intersection of stable cash flow and future development upside, the American Inn Motel presents a rare chance for investors to acquire an operating 33-room hospitality asset with additional land, located on a strategic arterial corridor in the heart of Danville, Illinois. Offered at just 650,000 this opportunity combines affordability with real, tangible value-making it ideal for seasoned hospitality investors, 1031 exchange buyers, and forward-thinking developers seeking to unlock long-term upside in a growing Midwestern submarket. Situated on three parcels totaling approximately 0.92 acres, the American Inn includes not only the existing motel improvements but also two vacant parcels that provide development or expansion potential. The property features 33 exterior-entry guest rooms, an on-site 3-bedroom apartment ideal for owner occupancy or rental income, and has recently received a new roof installation backed by warranty-providing a solid structural foundation for years to come. The site is zoned B1 Neighborhood Business, offering flexibility for future repositioning or redevelopment, whether hospitality, multifamily, or mixed-use. Strategically located along East Main Street (U.S. Route 136), the property is minutes from Interstate 74 and sits within Danville's active Campus Corridor TIF District, offering possible financial incentives to qualified investors and developers. This corridor is anchored by several of Danville's largest demand generators: the VA Illiana Health Care System, which brings a steady influx of veterans, staff, and families; Danville Area Community College (DACC), a key source of academic and athletic traffic; and the newly opened Golden Nugget Danville Casino, a 100M gaming development that is drawing increased tourism, job growth, and overnight visitation. Operationally, the motel reported gross income of 249,320 in 2023, up from 199,793 in 2022-a year-over-year gain driven by consistent bookings and attractive nightly rates ranging between 65 to 85 dollars per night. The motel caters to a reliable mix of transient highway travelers, extended-stay guests, workforce lodging, and visiting families. Its location along a visible, high-traffic corridor and proximity to medical, industrial, and institutional anchors ensures steady demand with minimal marketing. Investors can further unlock upside by implementing OTA integrations (Expedia, etc.), modernizing interiors, and refreshing curb appeal to command higher ADR and occupancy. Located just west of the Indiana border and 90 miles from Indianapolis, Danville is a central Illinois city undergoing a resurgence fueled by public-private investment, industrial expansion, and infrastructure growth. With a regional population of 70,000+, Danville serves as an economic anchor for surrounding rural communities. Major employers include Carle Health, AutoZone Distribution Center, Watchfire Signs, Viscofan, and multiple state and federal institutions. The recent opening of the Golden Nugget Casino adds a tourism and entertainment layer to the city's evolving economy, making Danville one of the few downstate markets with true demand diversity across healthcare, education, manufacturing, government, and hospitality.