Hotel near Mitchell Interchange to be sold at auction

The 96-room Milwaukee Airport Inn, located at 1716 W. Layton Ave., Milwaukee, northwest of Layton Avenue and I-94 near the Mitchell Interchange, will be sold in an auction on March 13, Northbrook, Ill.-based Hilco Real Estate LLC announced today.

The suggested opening bid for the hotel is $949,000.

The 50,833-square-foot, two-story building was built in 1970 and has an assessed value of $2 million, according to city records.

Previously the hotel operated under the Howard Johnson flag.

“This auction is an exceptional opportunity for hotel owner/operators and investors to name their price on a turnkey operation that offers almost immediate proximity to all the area’s major traffic generators,” said Jeff Azuse, senior vice president of Hilco Real Estate. “Combine that with the assumable SBA loan at very attractive terms, and you have an investment with great upside potential.”

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