WHY SECONDARY OR TERTIARY MARKETS

Many major markets across the country such as New York, Chicago and San Francisco are still struggling and have not recovered from COVID-19. Demand recovery was strongest in rural areas, as travelers gravitated to outdoor locations in search of fewer crowds and the chance for more social distancing. Smart, sophisticated investors won’t necessarily follow the herd mentality, and are moving to locations with more business friendly incentives, lower operational costs, low property taxes, and long-term growth opportunities.

SUMMER CLOSING

Don’t wait!! Close your hotel transaction in summer, expect a higher demand and boost your revenue in peak performing months.

AREA ATTRACTIONS AND DEMAND GENERATORS

• Illinois State University 
• OSF Saint James – John W. Albrecht Medical Center 
• International Wall Dog Mural and Sign Art Museum
• Pontiac-Oakland Automobile Museum
• Livingston County Courthouse 
• Route 66 Association Hall of Fame & Museum 
• Livingston County War Museum
• Comlara Park
• South Pointe Park and Pavilion
• Chautauqua Park 
• Streator City Park
• El Paso Antique Malls
• Weber House and Garden
• Fairlakes Golf Course
• El Paso Golf Course
• Wesleyan University
• Anderson Fields Golf Course
• St. Joseph’s Catholic Church 

ACCOLADES FOR PEORIA

• Ranked #47 out of the largest 150 metropolitan areas in Forbes “Best Places for Business and Careers” list
• Ranked #51 among 331 metropolitan areas in Sperling and Sanders “Best Places to Live” list.
• Expansion Management Magazine named Peoria a 5 star logistics city
• Peoria was ranked by Next Generation Consulting as the 16th best city in the “U.S. Next Cities” list, which includes municipalities with a population between 100,000 and 200,000

PEORIA MAJOR EMPLOYERS

• Caterpillar Inc
• OSF Healthcare
• Central Illinois Light Company
• St. Francis Medical Center
• School District 150
• Methodist Medical Center
• Illinois Mutual Life Insurance Company
• RLI Insurance Company
• Keystone Steel and Wire
• Bradley University
• AES Great Plains-CILCO
• Argonaut Great Central Insurance Company
• MH Logistics Corp
• USDA Agricultural Research Service
• Komatsu America International
• CEFCU
• Proctor Healthcare Incorporated

*Peoria’s major employment sectors are Manufacturing, Healthcare, Education, Insurance, Government, Finance, Leisure and hospitality.

Illinois Peoria MSA Hotel for Sale

Cook County is the most populous county in the U.S. state of Illinois and the second-most-populous county in the United States after Los Angeles County, California. More than 40% of all residents of Illinois live in Cook County. As of 2020, the population was 5,275,541. Its county seat is Chicago, the most populous city in Illinois and the third-most-populous city in the United States. It is included in the Chicago–Naperville–Elgin, IL–IN–WI Metropolitan Statistical Area.

CHICAGO-NAPERVILLE-ELGIN, IL–IN–WI MSA

The Chicago metropolitan area, also referred to as Chicagoland, is a U.S. urban area encompassing the U.S. Census Bureau’s Metropolitan Statistical Area or its somewhat larger Combined Statistical Area (CSA). The MSA and CSA include the city of Chicago and its suburbs, spanning 16 counties in northeast Illinois, southeast Wisconsin, and northwest Indiana. The MSA had a 2020 population of 9.6 million people and the CSA was estimated at nearly 10 million people. The Chicago area is the third-largest metropolitan area and the third-largest Combined Statistical Area in the United States, as well as the fourth-largest metropolitan area in North America.

The Chicago metropolitan area has one of the world’s largest and most diversified economies, with more than six million full and part-time employees, and generating an annual gross regional product (GRP) of $689 billion in 2018. The region is home to more than 400 major corporate headquarters, including 31 in the Fortune 500. For six consecutive years, Chicagoland was ranked the nation’s top metropolitan area for corporate relocations. The Chicago area is home to a number of the nation’s leading research universities including the University of Chicago, Northwestern University, University of Illinois at Chicago, DePaul University, and Loyola University.

The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including AbbVie Inc., Allstate, Boeing, Caterpillar Inc., Kraft Heinz, McDonald’s, Mondelez International, Motorola, United Airlines, Walgreens, and more. The Chicago area also headquarters a wide variety of global financial institutions including Citadel LLC, Discover Financial Services, Morningstar, Inc., CNA Financial, and more. Chicago is home to the largest futures exchange in the world, the Chicago Mercantile Exchange. In March 2008, the Chicago Mercantile Exchange announced its acquisition of NYMEX Holdings Inc, the parent company of the New York Mercantile Exchange and Commodity Exchange. CME’S acquisition of NYMEX was completed in August 2008.

In 2007, the area ranked first among U.S. metro areas in the number of new and expanded corporate facilities. It ranked third in 2008, behind the Houston–Sugar Land–Baytown and Dallas–Fort Worth metropolitan areas, and ranked second behind the New York metropolitan area in 2009.

The Wall Street Journal summarized the Chicago area’s economy in November 2006 with the comment that “Chicago has survived by repeatedly reinventing itself.”

CHICAGO – ONE OF THE BEST BIG CITIES IN THE U.S.

Condé Nast Traveler announced the winners of its prestigious Readers’ Choice Awards — and Chicago has been voted the Best Big City in the U.S. for an unprecedented fifth year in a row.

Chicago is the most populous city in the U.S. state of Illinois, and the third most populous city in the United States, following New York City and Los Angeles. With a population of 2,746,388 in the 2020 census, it is also the most populous city in the Midwestern United States and the fifth most populous city in North America. Chicago is the county seat of Cook County, the second most populous county in the U.S., while a small portion of the city’s O’Hare Airport also extends into DuPage County. Chicago is the principal city of the Chicago metropolitan area, defined as either the U.S. Census Bureau’s metropolitan statistical area (9.6 million people) or the combined statistical area (almost 10 million residents), often called Chicagoland. It is one of the 40 largest urban areas in the world.

Chicago is an international hub for finance, culture, commerce, industry, education, technology, telecommunications, and transportation. It is the site of the creation of the first standardized futures contracts, issued by the Chicago Board of Trade, which today is part of the largest and most diverse derivatives market in the world, generating 20% of all volume in commodities and financial futures alone. O’Hare International Airport is routinely ranked among the world’s top six busiest airports according to tracked data by the Airports Council International. The region also has the largest number of federal highways and is the nation’s railroad hub. The Chicago area has one of the highest gross domestic products (GDP) in the world, generating $689 billion in 2018. The economy of Chicago is diverse, with no single industry employing more than 14% of the workforce. Chicago is home to several Fortune 500 companies, including Allstate, Boeing, Caterpillar, Exelon, JLL, Kraft Heinz, McDonald’s, Mondelez International, Sears, United Airlines Holdings, US Foods, and Walgreens.

Chicago’s 58 million tourist visitors in 2018 set a new record, and Chicago has been voted the best large city in the U.S. for four years in a row by Condé Nast Traveler. The city was ranked first in the 2018 Time Out City Life Index, a global urban quality of life survey of 15,000 people in 32 cities, and was rated second most beautiful city in the world (after Prague) in 2021. Landmarks in the city include Millennium Park, Navy Pier, the Magnificent Mile, the Art Institute of Chicago, Museum Campus, the Willis (Sears) Tower, Grant Park, the Museum of Science and Industry, and Lincoln Park Zoo. Chicago is also home to the Barack Obama Presidential Center being built in Hyde Park on the city’s South Side. Chicago’s culture includes the visual arts, literature, film, theatre, comedy (especially improvisational comedy), food, and music, particularly jazz, blues, soul, hip-hop, gospel, and electronic dance music including house music. Of the area’s many colleges and universities, the University of Chicago, Northwestern University, and the University of Illinois at Chicago are classified as “highest research” doctoral universities. Chicago has professional sports teams in each of the major professional leagues, including two Major League Baseball teams.

RELOCATION BUYERS – LIVE AND WORK NEAR CHICAGO LOOP

The Chicago Loop, along with the rest of downtown Chicago, is the second largest commercial business district in the United States after New York City’s Midtown Manhattan. Its financial district near LaSalle Street is home to the CME Group’s Chicago Board of Trade and Chicago Mercantile Exchange.

 Courtesy: Wikitravel.org

Aon Corporation maintains an office in the Aon Center. Chase Tower houses the headquarters of Exelon. United Airlines has its headquarters in Willis Tower, having moved its headquarters to Chicago from suburban Elk Grove Township in early 2007. Blue Cross and Blue Shield Association has its headquarters in the Michigan Plaza complex. Sidley Austin has an office in the Loop.

The Chicago Loop Alliance is located at 55 West Monroe, the Chicagoland Chamber of Commerce is located in an office in the Aon Center, the French-American Chamber of Commerce in Chicago has an office in 35 East Wacker, the Netherlands Chamber of Commerce in the United States is located in an office at 303 East Wacker Drive, and the US Mexico Chamber of Commerce Mid-America Chapter is located in an office in One Prudential Plaza.

McDonald’s was headquartered in the Loop until 1971, when it moved to suburban Oak Brook. When Bank One Corporation existed, its headquarters were in the Bank One Plaza, which is now Chase Tower. When Amoco existed, its headquarters were in the Amoco Building, which is now the Aon Center.

The plurality of Loop residents, 40 percent, also work there. 26.8 percent work outside of Chicago. Respectively 11.5, 8.0, and 2.8 percent work in the Near North Side, the Near West Side, and Hyde Park. The plurality of those employed within the Loop, at 45.5 percent, live outside of Chicago. The community area of Lake View is the second most prevalent residence, housing 4 percent of Loop employees. The Near North Side, West Town, and Lincoln Park respectively house 3.8, 2.6, and 2.5 percent of those working in the Loop.

The professional sector is the largest source of employment of both Loop residents and Loop employees, at respectively 21.4 and 23.3 percent. Finance was the second most common employment for both groups, at respectively 13.5 and 17.7 percent. Health Care was the third largest sector for residents at 10.2 percent while Education was the third largest sector for Loop employees at 13 percent. Education was the fourth largest employer of residents at 9.4 percent while Public Administration was the fourth largest for Loop employees at 13 percent. Administration was the fifth largest sector for both groups, at respectively 6.9 and 7.3 percent.

EL PASO, ILLINOIS

El Paso is a city in Woodford and McLean counties in the U.S. state of Illinois. The Woodford County portion of El Paso is part of the Peoria, Illinois Metropolitan Statistical Area.

El Paso is a small community in central Illinois that took on more characteristics of a highway community after the construction of Interstate 39, which supplanted the older alignment of U.S. Highway 51. In addition, El Paso is a potential stop for Chicago-Peoria traffic via U.S. Highway 24.

As of the recent United States Census, the racial makeup of the city was 98.89% White, 0.15% African American, 0.15% Native American, 0.22% Asian, 0.22% from other races, and 0.37% from two or more races. Hispanic or Latino of any race were 0.71% of the population.