Grayslake, IL 60030 33950 N US Highway 45 Highway

Incredible investment opportunity at the Country Motel located at 33950 W Hwy 45 in Gages Lake, IL. This 11-room motel is centrally located between Chicago and Milwaukee and directly adjacent to the College of Lake County, offering excellent potential for student housing conversion. The property generated $171,000 in revenue and $110,000 in NOI in 2024, with current owners operating efficiently and maintaining a strong local reputation. The owner's suite can be converted into a 12th unit, and nightly rates currently average just $70, presenting significant value-add potential. Ideal for investors seeking cash flow with multiple repositioning options including long-term rentals, Airbnb, or continued motel use. Conveniently located near Six Flags Great America, Gurnee Mills, Lake Michigan, and major employers.