Info For Buyers
:: The owner is relocating overseas in June 2012. Must sell the motel before that ::
What an opportunity to grab this profitable motel
Cash Cow !!!
Serious buyers only, Please.
Will consider serious ALL cash offer
You can easily get mortgage from mortgage brokers who will charge you a fee to get you the money
Economy Inn Express is an independent interior corridor two story brick motel located in a small town Mount Carmel, IL; which is located in the South Easter part of IL. Located conveniently near big cities like St. Louis, Louisville, Indianapolis are only about 2 hours drive. Evansville, IN is only 30 miles away, Chicago about 4 hours. Evansville airport is only 20 miles away.
Economy Inn Express has 36 rent able units with total number of rooms 40. Single bed - 22, Smaller two beds - 3, Bigger two beds - 3, Connecting rooms two beds with kitchenette- 3, Connecting rooms with 3 beds - 2. One two rooms with full kitchen and lobby that has been rented monthly - the tenant has been there since 1986. Over 25 years. There is also a two rooms one beds unit with kitchenette. Some rooms have standing showers and some rooms have tub. There is an apt. in the basement which rents for $125 a week. The tenant of 25 years pays $550 a month. Other long term tenants pay $140-$160 a week for one; for double rooms the long term rent is $175-$200 a week. Regular rate for those rooms during the outage is $179 to $199 a week for single occupancy. Double and higher occupancy is $225 to $360 a week.
All rooms come with Newer Refrigerator, Newer Microwave, Newer TV, some rooms have cordless telephone - some rooms have 32" TVs. Two rooms units have two TVs and two air conditioners. Mitel telephone system. Economy Inn Express offers free long distance calls from front desk and local call from room. Wireless High Speed Internet access from rooms (4 routers) and there is one computer in the lobby for motel guests' use, there is another computer for the front desk. The lobby has a 52" widesreen Toshiba HD TV. Cable with 70+ channels, some digital TVs receives more.There is a CCTV system with 8 cameras with 2 page monitor with time leapse VCR less than 1.5 years old.The VCR can record upto 1 month in a regular video tape. The monitor has been installed in the owner's quarter's living room.
The building is a two story with full basement (over 6,000 sqft) with the total of about 20,000 sqft. Plenty of parking spaces with the free off street parking.
The owner's living quarters is a bi-level 2,600+ sqft aprt. with sunroom with fireplace, new windows, new wooden privacy fenced large back yard which is equiped with flower bed to plant vegetables. Roses are already planted and small pears trees. There is a new L-shaped deck which is 27'x19' nice addition for kids to play. The deck and the privacy fence are less than 2 years old. The living quarters has less than two year old good quality carpet, the kitchen vinyl fllor is also two years old. WE HAVE ADDED TWO MORE ROOMS WITH A LARGE CLOSET WITH THE LIVING QUARTERS. THE SIZES OF THE ROOMS ARE 14'X21' AND 14'X26' THE CLOSET IS 12'X8.5' AND A BATHROOM WITH ZACUZZI THAT WOULD MAKE THE LIVING QUARTERS WELL OVER 2600 SQFT. You just cannot get anything better than this in a motel.
New water heater put in less then 2 years ago. The carpet in the main floor was put in 2 years ago, (Holiday Inn Express Quality) the carpet in the lobby area and the back entrance was replaced with Italian tiles at the same time. All of the electrical bulbs has been replaced with energy saving bulbs.
There are 5 soda vending machines and 1 candy vending machine can be bought seperate. The company van - 1999 Ford E-350 a 15 seater is negotiable. There is a 60" Sony WEGA HD TV, 52" HP Palsma and a RCA LCD TV in the living quarters that can be negotiable also. There are about 5/6 extra refrigerators (medium size 3.3 to 4.5), 5/6 extra TVs, Few Microwaves, 10+ vacuum machines, 3/4 carpet cleaning machines, About 60 night stands, 6/7 Desks, about 10 credenzas, 3/4 Tables, 20/30 head boards that can be bought with the motel for a package deal.
Water bill is very low ranging from $34 to $133 per month, Cable is $123 per month fixed (other people pay over $500), Telephone is $112 to $123 per month, free long distance (Magic Jack) only $19.95 a year, (That's also the fax number - 985-Economy) gas, oil, electric bill are also very reasonable which makes this motel is a very profitable business. The real estate tax is $4800, the insurance for the motel is $3600 with earth quake insured to $1,050,000. The eletric bill ranges from $678 to $1680 last year. Water bill was between $34 to $135. Gas about $100 to $150 per month, Trash $49.50 per month, Wireless Internet $37.99. Our toll-free number is 1-800-281-6602 that we bought forever, so there is no monthly fees for the line, just pay for the minutes that you use. It costs 2.6 cents per minutes. It is not easy to get 800 numbers any more. These days all you can get is 888, 877 or 866 numbers. There are two 4'x8' billboards one in Route 1 and the other is in route 64 rental charge is only $175 ($100+$75) per year. We are also putting five new 4'x8' billbords by the highway.
Very easy operation. There are new four security cameras in the lobby, hallway and the parking lot with high quality two page monitor in the living room from where anyone can have full control of the motel. Nobody needs to stay in the front desk at all time. Four more cameras can be added to the monitor. And view all 8 cameras at the same time.
Most of the motel's income comes from the near by power plant's two yearly outage. First one is in March for 10-12 weeks and the other one is in October for 4-6 weeks. We make about 60-70% of the income from those outage. The power plant has been there since 1970. There is also a watermelon picking season, which starts in July for 6 to 8 weeks. We do get about 80+ workers during this season. They usually share rooms. The social service office gives us about $10K per year business. They pay for two week's rent for people who need help with their accomodations. Most of our guests are weekly guests which makes it easy to operate. Very low cost operation. Permanent guests pay about $6,000 per guest per year. Do the calculation and see how much the revenue comes out to be.
We are located next door to the post office, first bank is half block, Court house is one block, utility company is 1 block, insurance company is right across the street, city hall is two blocks away. The pown shop is next door also. Mexican restaurant, McDonals, CVS, Gas station, Dollar store, Pizza places all are within 2-3 blocks away. Police Station is 1.5 blocks. Very conveniently located.
The website is not included with the sell price. Fax Machine, credit card machine are included.
You do the math and give us a call. We have moved half way to Houston, TX and the other half must follow. Must sell this motel QUICK. If we had some relatives who can run this motel we would never sell it.
Why are we selling this profitable motel?
We are moving back home overseas in June 2012. We must sell the motel before that.
Faruque Khan 618-262-8000, 618-262-4146 1-800-281-6602 Cell: 618-240-1409 or 618-240-1973