MCR acquires Hampton Inn in Mt Prospect, IL

The 120-room Hampton Inn & Suites by Hilton located in Mount Prospect, Illinois has been sold to MCR in a $12.75 million transaction. Trading for $106,250 per room key, the property is located at 999 N. Elmhurst Road in the one million square foot mixed-use Randhurst Village. The hotel, which opened in 2012, features garage parking, indoor pool and fitness center along with meeting space for up to 70 people. The hotel is close to many businesses in Mount Prospect, including the U.S. offices of Japanese corporations Mizkan and NTN Bearing, as well as Allstate Insurance, ITW, and a satellite office for CVS Caremark, which employs 1,400 people in the area. “The acquisition of this property by MCR represents the investment of a high-quality hotel with an industry leading brand at a price well below replacement cost,” said Tyler Morse, Chief Executive Officer and Managing Partner of MCR. “The hotel is positioned to provide attractive returns to our investors and will benefit from its proximity to both the retail amenities and the local demand generators.”