1604 Sobieski Street, La Salle, IL 61301

The Property 1,792 sq ft | 3 bed | 2 bath | LaSalle, IL Renovated and professionally designed in early 2024. Fully furnished with approximately $15,000 in curated contents included. Effective acquisition basis of roughly $235,000. Hot tub included.

Competitive Moat This property occupies a rare market position. LaSalle County has approximately 10% hot tub penetration across STR inventory. Within the City of LaSalle, there is no other property of this size with a hot tub that accommodates both couples and larger groups. This versatility, serviceable for 2 guests or a full group, outperforms single-use mega-properties that price out the couples and small group market entirely.

Demand is also structurally diversified. Peak season draws tourists, families, and groups from the Chicagoland market for Starved Rock (2M+ annual visitors, 15 minutes away), Matthiessen State Park, the I&M Canal trail system, and the broader Heritage Corridor. Off-peak and shoulder seasons are consistently offset by trades and business traveler demand from the surrounding industrial base, meaningfully reducing seasonality risk.

The Location

• 15 minutes to Starved Rock State Park and Matthiessen State Park
• 5 minutes to Hegeler Carus Mansion, downtown LaSalle, and the I&M Canal trail system
• Regional biking, hiking, and waterway recreation on the doorstep
• Captive drive-market from the Chicago metro (approximately 90 minutes)

The Numbers The property was owner-operated from August 2024 through January 2025, achieving a blended ADR of $289 at 50% overall occupancy across a period that included two deep low-season months (December and January). Peak months during that same period averaged 70%+ occupancy at comparable ADR, with November 2024 hitting 80% occupancy and $7,185 in gross revenue.

The 50% blended figure is a floor, not a ceiling. A full year of owner-operation with active pricing and marketing optimization was on track to reach 60 to 65% blended occupancy, consistent with the property's demonstrated peak-season demand and the broader Starved Rock STR market. That trajectory was interrupted when management was handed off in February 2025.

2025 gross revenue under property management: ~$54,000

2025 NOI under property management: ~$12,000

The 2025 financials reflect a documented series of operational disruptions, not property performance. ADR deteriorated from $289 under owner operation to ~$197 by late 2025 due to PM pricing errors, unauthorized 1-night stay policies, and cleaning cost escalation from $90 per clean to over $226 per clean in the final months. These are fully correctable with competent operations. Twenty-one months of uninterrupted actuals are available for review.

Three Immediate NOI Levers for an Acquiring Operator

1. Restore ADR to owner-operated baseline (~$290). Documented and achievable. At normalized occupancy levels, the $90+ ADR gap versus late PM-era pricing represents $15,000 to $20,000 in additional annual revenue.
2. Normalize cleaning costs. Owner-operated baseline was $90 per clean. PM-era costs escalated to $226 per clean in the final months. Bringing this to a reasonable market rate of $150 to $175 per clean saves $8,000 to $12,000 annually at normalized booking volume.
3. Eliminate or reduce management fees. PM fees ran approximately 16 to 20% of revenue, or $8,000 to $10,000 per year. Self-management or a lean co-hosting arrangement eliminates or dramatically reduces this.

Projected NOI for an Acquiring Operator

At 60% occupancy and $290 ADR with normalized cleaning costs and no management fee, projected annual NOI is approximately $13,200, a 5.3% cap rate on purchase price. An active operator pushing toward 65% occupancy at $300 ADR can reasonably project approximately $19,600 in annual NOI, a 7.8% cap rate on a fully furnished, turnkey asset. Both scenarios are grounded in documented revenue history from this property and are consistent with its demonstrated peak-season performance.

What Is Included Full furnishings, decor, hot tub, and STR-ready setup (approximately $15,000 replacement value). Established listing history. Professionally designed interiors. Basement fireplace with gas line in place, reconnection is a minor project that adds premium fall and winter pricing power.

Property is currently de-listed from all STR platforms. No active reservations. Buyer can reactivate and begin generating revenue immediately upon closing.

This is a documented, operating STR with a clear and specific path to material NOI improvement. The underperformance is operator-driven and data-supported, not structural.

Offered at $249,900 fully furnished.