Paladin Suites Hotel
Office & Convention Center

Dictionary meaning of Paladin: A leading champion of a cause.

This will be the name until we decide upon a franchise flagship.

We have negotiated one of two choices. $800KCash or 1.1M financed
2 points over prime, 1 point, and 30-year amortization 3-year balloon with
25% down (275K). $500K for remodeling can be paid out in stages.

Seeking private funds to complete this transaction. Once up and running
will refinance to pay off.

Fully up and running Value is 4.5M Plus

Located on 6.79 acres, at a prime location in Northwest Indiana.
Located near three major interstates I-80-/90, I-65, and I-94.

159 Rooms, interior corridor, indoor and outdoor pool, 250 to 300 seating banquet room, Restaurant, and separate sports bar. Each with separate exterior entrances.
Property is in receivership due to mis-management.

Revenue in 1999 was $1,208,893, never reached its growth potential. Revenues steadily decreased due to admitted lack of ownership attention, lack of sales and marketing focus, and poorly trained on-site management.

We are intending to work with and remodel the existing structure and amenities on this site. One of our principles Allen Watkins is a licensed Real Estate Broker in the State of Indiana and Illinois. He is the owner of one of the largest REO Specialty Brokerages in the Chicago area. Closing over 500 transactions a year. Allen Watkins has 2 partners that operated this business, allowing him the necessary time to devote to this hotel project. In addition, he lives 4 miles from the hotel, and will move his personal home office and staff into the hotel, as part of our intense management strategy.
We are talking with a successful quality restaurant owner in the area, about leasing the restaurant and sports bar.
We are investigating different franchise flagship possibilities.
It is our intention to convert a strategic number of rooms to offices as part of our "Hotel Office Center" upgrade, (currently two commercial tenants on waiting list) along with proper utilization of the amenities, creating a resort like atmosphere, marketing, and involvement with the local community officials, business owners, and the various tourist attractions nearby. This property will now dominate the market, and produce record revenues for years to come.

Financing terms negotiable. Ideally, one private money source would be best, and smaller pledges will be considered.

Any interested parties should contact Allen Watkins at 219-762-3437 or cell 708-774-9030.

Hi there

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