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Updated about 5 years ago on . Most recent reply
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Need some help in Chicagoland area!
HI everyone! I need help looking for some buildings in order to propel my business. What I'm looking for are specific traits for the building that might be a little hard to find. What I'm looking for is basically a motel/hotel but for a different reason. I will be housing people but for a short stay. Roughly two weeks at a time. I also need to remodel them to be customized to my design for the business. I talked to a RE Broker and he told me i might be looking for a commercial broker. I would like to lease a building with a 3-5 year term to see if my new business adventure works out or if i can find a nice enough building to purchase that can harvest my ideas I'm willing to take a look at those too. If i am Going to purchase I would like for it to be in not good shape so i can add sweatquity. Even for leasing Im willing to find a not so nicer place and fix it up myself if the price is right. The areas I'm currently looking at are in the Chicago north suburbs or northwest. Glenview, Northbrook, Deerfield, Wheeling, and pretty much those surrounding areas.
Needs:
10-100 Rooms around 200-400sqf
Each room needs own bathroom and shower (its okay if not but must be okay to add)
Area for facility should not be near any trucking commerical places. Needs to be some what quiet for relaxation
Needs office spots for admin and accounting.
Needs common area
Needs full commercial kitchen
Parking Lot
These are some of the things I need from this building. I dont mind to put in sweatquity and add these things if needed. As long as the price is right. Also if there are rooms that are HUGE but can be broken down into two rooms i dont mind that as well. If anyone has any leads or needs more information please DM me and I will respond as quick as possible. I can be pretty creative when it comes to this and i do have a vision that i want. Thanks again for your help!
Most Popular Reply
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Is this a nursing home/care home type idea? Student housing? You can't just buy or rent a commercial place, build out a bunch of housing and stuff 100+ people into it. There are programs which allow aforementioned types of housing. You'll want to check out those resources and see where they may offer benefits to participants.
Search for commercial brokers and let them know you're looking for a hotel/motel. You may want to mention it's for "extended stays" which usually have a small kitchenette setup.
Looking for partners, etc. isn't allowed on the forums so I'll leave you with that. Good luck!