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Holiday Inn Rock Island – Image Credit CBRE
CBRE Hotels, on behalf of Kinseth Hospitality III, has listed the 172-room Holiday Inn in downtown Rock Island, Illinois, for sale. The property is strategically located at the northeast corner of 17th Street and 3rd Avenue, making it the only hotel in the downtown area. This location is in a prime position to attract corporate, group, and leisure travelers visiting the city.
The Holiday Inn is near several major businesses and attractions. For instance, it is within walking distance to Modern Woodmen Insurance and across the street from the new U.S. Federal Courthouse, which is set to open in 2025. Other nearby demand generators include the Rock Island Arsenal, Hy-Vee, HNI Corporation, Arconic, Tyson, Kraft Heinz, and the world headquarters of John Deere.
The hotel is part of the Quad Cities, which includes Bettendorf and Davenport, Iowa, and Moline, Illinois. The area is home to numerous attractions and events, higher education, and the Quad Cities International Airport, which consistently generates room nights for local hotels throughout the year.
The eight-story mid-rise hotel, constructed in 1963, has been efficiently designed with a spacious ground floor, housing the lobby, multiple retail outlets, administrative offices, and the recently renovated Rock Island Ale House. The second floor contains the hotel’s meeting space, including the Grand Ballroom, which can accommodate over 500 people. Guestrooms are located from the third to the eighth floors. The hotel has been well-maintained by the current ownership, which has invested in upgrades to its mechanical systems, elevators, and roof.
The hotel is being sold unencumbered by management, with the potential for new owners to assume the remaining two years of the current franchise agreement. New owners could sign a long-term franchise agreement or convert the property into a dual-branded Candlewood/Holiday Inn. Despite the need for additional capital improvements, the Holiday Inn Rock Island presents an attractive investment opportunity due to its prime location and well-maintained condition.
For inquiries visit CBRE.
