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205 Powers Road, Rochelle, IL 61068
$399,000
205 Powers Road, Rochelle, IL 61068View this property at 205 Powers Road, Rochelle, IL 61068
205 Powers RoadRochelleIL61068
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Property Description
Nestled in the heart of Rochelle, IL, at 205 Powers Rd, this cherished family-owned motel presents a unique investment opportunity. For over four decades, this property has been a staple of hospitality, offering both short-term accommodations and long-term tenancies. Situated on a generous .89-acre lot, it features an expansive parking area and a serene, grassy space behind the building, ideal for guest relaxation or potential expansion. The motel spans 3,684 square feet, with a total of 11 units divided into 5 single rooms, 5 double rooms, and a spacious 2-bedroom apartment, complete with a bathroom, living room, and kitchen. This apartment offers a perfect living solution for an onsite owner or manager, blending business with comfort. The facility also includes a small office area to facilitate smooth operations. Financially, this property has consistently demonstrated solid performance, with normal annual income ranging from $60,000 to $70,000. This is supported by a blend of short-term room rates-$50 per night for a single room and $60 for a double, with weekly rates of $300 and $350 respectively-and monthly rentals to long-term tenants. These tenants, five in total, contribute significantly to the motel's stability and income, with annual rent from regular tenants alone amounting to $53,160, before even considering motel rentals. The property's expenses are well managed, with total costs in 2023 (including property taxes) amounting to $21,921.81, leading to an average annual profit between $40,000 and $50,000 for the owners. It boasts a new roof installed 12 years ago and well-maintained mechanical systems, ensuring that the next owners will inherit a property in good working order. Located at 205 Powers Rd, Rochelle, IL 61068, this motel not only offers a solid financial foundation but also potential for growth. Whether maintaining its current operation, enhancing its promotion and advertising, or converting it into studio/efficiency apartments, the possibilities are vast. This opportunity is particularly appealing for those looking to step into a well-established business with room for innovation and expansion. The current owner, seeking retirement after years of dedication, has managed the property with minimal onsite presence, highlighting a significant opportunity for improvement and increased profitability for hands-on management. This is an excellent chance for someone ready to take this longstanding establishment to new heights, building on its legacy and exploring new avenues for success. In summary, 205 Powers Rd offers a blend of tradition, potential, and financial stability, making it an attractive proposition for anyone looking to invest in the hospitality industry or explore the realm of property management and development.
Full Property Details
Full Property Details for 205 Powers Rd
General
- Price: $399,000
- Taxes: $5,287 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 12019388
- Updated: 4/8/2024
- Added to Site: 32 day(s) ago
Location
- Area: Flagg Center / Hillcrest / Kings / Rochelle
- County: Ogle
- Township: Flagg
- Driving Directions: Take N I-39 ALT to Hillcrest west, Immediate left turn on Powers rd South. Arrive 2 Blocks down.
- Location Details: High Traffic Area
Heating & Cooling
- Heating Type: Central Building Heat, Wall Unit
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Composition
- Stories/Levels: 1
- Year Built: 1957
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: .89
- Frontage: Frontage Road
- Potential Use: Condominium, Multi-Family
Financial Considerations
- Operating Expenses: $21,000
- Other Fee: $21,000
- Assessment Year: 1957
- Tax Amount: $5,287
- Tax Year: 2022
- Tenant Pays: None
Disclosures and Reports
- Property ID: 24123780180000
Listed by EatZ Real Estate Group LLC
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Schools
Schools serving 205 Powers Rd
School Districts:Rochelle Township High School District 212, Rochelle Ccsd 231
Rating | Name | Grades | Distance |
---|---|---|---|
1401 Flagg Rd, Rochelle, IL 61068 | 9-12 | 0.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 205 Powers Rd
Date
Details
Price
Change
Source
4/02/2024
Listed
$399,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 205 Powers Rd
Year
Property Taxes
Change
Tax Assessment
Change
2021
$5,029
-5%
$54,315
-8%
2022
$5,288
9%
$58,796
14%
2020
$4,861
2%
$51,728
2%
2019
$4,789
3%
$50,839
2%
2018
$4,642
—
$49,843
—
2017
$4,635
1%
$49,843
3%
2016
$4,589
3%
$48,476
2%
2015
$4,469
2%
$47,666
—
2014
$4,381
-3%
$47,666
-5%
2013
$4,512
—
$49,969
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 205 Powers Rd
205 Powers Road, Rochelle, IL 61068 (MLS# 12019388) is a Commercial property. 205 Powers Road is currently listed for $399,000 and was received on April 02, 2024. Want to learn more about 205 Powers Road? Do you have questions about finding other Commercial real estate for sale in Rochelle? You can browse all Rochelle real estate or contact a Coldwell Banker agent to request more information.