PA Picks – We’re on a Hotel Check-OutSeptember 4th, 2012 by Ori Klein
Though the summer vacation season is coming to a close, hotels are always in demand for off-season tourists and frequent business travelers. For those who have ever dreamed of commanding their very own hotel or being a key investor, you may want to peruse these properties hitting the auction block.
Check out Micoley.com’s 56,073sf hotel property in Dixon, Illinois. This 89-room building comes with a pool area, dining room with full kitchen and parking for 160 cars. There is also a banquet center owned and operated by a separate party conveniently located next door, practically guaranteeing out-of-town guests from weddings and other formal functions looking for a place to stay. PA is picking this one for its potential – situated in the Enterprise Zone, this hotel is eligible as a candidate for property tax abatement, and no tax on building materials for rehab projects. Auction date is September 15th.
Another advantageous find is Tranzon’s full-service turnkey hotel in Mendon, Vermont. This 28,280sf 40-room establishment comes with a host of amenities essential for lodging accommodations, including a full kitchen, 86-seat dining room, bar, game room and saunas. The lucky winning bidder also gets the remaining operating equipment. PA digs this one for its key location, sitting on 7.4 acres with 498’ Route 4 frontage and only minutes from Pico and Killington ski resorts. Auction date is September 18th.
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