In Brief: The Courtyard by Marriott Glenview/Northbrook, a 149-room hotel in Glenview, Illinois, has been listed for sale, with CBRE Hotels acting as the exclusive agent.
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Courtyard by Marriott Glenview/Northbrook Listed for Sale in Chicago Suburb – Image Credit CBRE
Property Overview
The Courtyard by Marriott Glenview/Northbrook is a three-story hotel located in Glenview, Illinois. The property offers 149 rooms and was constructed in 1989. The hotel is being sold as a fee-simple interest and is unencumbered by management, allowing buyers flexibility in future operations.
The hotel is positioned near the intersection of Illinois Route 21/Milwaukee Avenue and West Lake Avenue, directly off Interstate 294. This intersection has a combined average daily traffic count of 49,200 vehicles, while Interstate 294 sees over 148,000 vehicles daily.
Location and Accessibility
The property is situated approximately 3 miles from Chicago’s Executive Airport (PWK), less than 12 miles from Chicago O’Hare International Airport (ORD), and just over 20 miles from downtown Chicago. The location provides access to major transportation routes and regional connectivity to the Chicago metropolitan area.
The hotel is in proximity to several corporate headquarters and large employers, including Allstate, Anixter, SurePayroll, Abt Electronics, Illinois Tool Works (ITW), Astellas, UL Solutions, and Crate & Barrel. The area also offers access to convention centers and leisure destinations, including the Donald E. Stephens Convention Center, Allstate Arena, Parkway Bank Park, Rosemont Theater, Fashion Outlets of Chicago, and Rivers Casino.
Market and Demographics
Glenview has a population of nearly 50,000 residents. The city is part of the Chicago Metropolitan Statistical Area (MSA), which has a population of almost 10 million people, making it the third-largest MSA in the United States.
The hotel’s location in Chicago’s North Shore submarket is considered established and offers opportunities to attract business, leisure, convention, and transient guests.
Financial Performance
For the twelve months ending November 2025, the hotel reported over $4 million in room revenue and nearly $4.4 million in total revenue. The property achieved a 63.5% occupancy rate with an average daily rate (ADR) of $119.14 and a revenue per available room (RevPAR) of $75.69 for November 2025.
Investment Considerations
The property is being offered at a price below replacement cost. The hotel is available unencumbered by management, which may appeal to buyers seeking operational flexibility.
There is potential to increase revenue per available room (RevPAR) by completing the Courtyard Property Improvement Plan (PIP), which is available to interested parties in the virtual deal room.
Summary
The Courtyard by Marriott Glenview/Northbrook is now available for purchase. The hotel’s location near major transportation routes, corporate centers, and leisure attractions, combined with its financial performance and operational flexibility, positions it as an attractive option for buyers seeking investment opportunities in the Chicago-area hospitality market.
Inquire at CBRE.
