CHICAGO � April 30,2003 -- Hotel Source,Inc.completed
the sale of the 74-room Timmerman �s Hotel and Resort � East Dubuque, Illinois.
The hotel was purchased by a local investor and was previously owned through
foreclosure by a local bank. The sale was handled with the assistance of
Ira Ury and Steve Marx of Hotel Source,Inc.
| The hotel was sold on an all-cash
basis and the sale was completed in an accelerated time-frame. Timmerman�s
Hotel and Resort is visible along US-20, the main thoroughfare running
across the Illinois/Iowa border into Dubuque,Iowa. The property is located
minutes from the Iowa and Wisconsin state lines. Located adjacent to the
hotel are the landmark Timmerman�s Supper Club and Lacoma Golf Course.
Also nearby are the Chestnut Mountain Ski Area, Diamond Jo Casino and Sundown
Mountain Resort. The three-story hotel is of concrete block construction
and offers six jacuzzi suites,a conference room and an indoor recreation
area.
Hotel Source,Inc.is a real estate |
Timmerman �s Hotel and Resort
7777 Timmerman Drive
East Dubuque, Illinois
|
brokerage firm dedicated exclusively to the lodging industry. Founded
on the principle of offering traditional personal service while employing
the most advanced technologies and competitive strategies to market and
sell hotel properties,Hotel Source, Inc. represents clients throughout
the United States and abroad from its offices in Chicago. |