Welcome to Aldrich Guest House, Illinois’ #1 rated B&B on TripAdvisor and #14 in the United States! This highly profitable turnkey 5-guest room bed and breakfast has everything an aspiring innkeeper could ask for and then some. Extensive renovations and updates throughout combined with a loyal customer base, impressive financial performance, and effective marketing presence mean low upkeep costs and strong revenue. Combined with a private 1-bedroom innkeeper’s quarters, this creates the ideal setup for long-term success, innkeeper comfort and privacy, and solid return on investment for the next owners.
Strength in Numbers
Aldrich Guest House is a highly profitable five room Bed and Breakfast located in an established destination location. The Inn’s annual occupancy has averaged 61% over the last three years with an average daily room rate of $221.78 in 2023. More impressive is the Inn’s strong and steady cash flow which, based upon the current asking price, reflects an astounding 14% Capitalization Rate, 2.1x Debt Service Coverage Ratio (most banks require a DSCR of 1.4 – 1.5), and a 30% cash on cash return to new owners. Contact us to review the Inn’s detailed financial history for a full picture of profitability.
Many Recent Updates
Most recently, a new roof and all new windows were installed in 2023. Other major updates include a complete kitchen renovation and new appliances in 2022, individually controlled HVAC in each guest room, HVAC for public spaces, tankless water heaters, twin-tank water softener, exposed aggregate driveway, sidewalk, curb, and gutter, and installation of The Potting Shed. Additionally, each guest room and all public spaces have been renovated with the goal of reflecting the history of the house without replicating it – no wallpaper, baby dolls, or doilies for the next owner to remove! Renovations and improvements have been done with sustainability and historic preservation at the forefront to preserve the historically significant home.
Strong Performance
Revenue, rates, and occupancy consistently outpace the competitive set as well as area averages and all three metrics continue to experience upward growth. This strong financial performance adds to the turnkey nature of Aldrich Guest House, sets buyers up for success from Day 1, and gives the next innkeepers a strong revenue source to use as a springboard setting up the next owners for significant and immediate return on investment.
Aldrich Guest House has a loyal repeat guest base and glowing guest reviews. With over 1000 five-star reviews, Aldrich Guest House defines the top tier of hospitality properties in the country. Additional awards include first runner-up in a national breakfast competition, first place in a garden competition, Best Romantic B&B by River Travel Magazine, and the Inn was a City of Galena GreenLeader Founding Member.
Updated Website and Social Media
In addition to renovations of the physical property, the website was recently redone with a focus on Search Engine Optimization, ADA Compliance, responsive design across devices, performance, and speed.
Yet another turnkey aspect of Aldrich Guest House is the social media presence. Social media is an essential part of the marketplace today and new owners will be able to hit the ground running on this front as well allowing them to start from a strong and established base and adjust and personalize their marketing at their own pace and giving them the freedom to focus on what matters the most – their guests!
With Facebook being the primary platform Aldrich Guest House stands out in this area as well. There are over 2,500 engaged and motivated followers with the majority being guests and/or the target audience/guest. Instagram and Pinterest are also effectively used to supplement social media presence with Instagram targeting a younger audience and Pinterest being used to connect with guests for sharing recipes, tips and tricks, etc. With all of the social media already set up.
Location Location Location
Sitting on just under half an acre of land in a residential neighborhood, the Inn is within easy walking distance to downtown Galena which has over 120 boutique shops, and diverse dining options – from casual fare to fine dining – and is a short drive from all of the other attractions worth noting in this destination location. Multiple trees and gardens on the property create a park-like surrounding and have been curated to be low maintenance and self-sustaining.
Galena itself is located within 3 hours of many large cities including Chicago, Milwaukee, and Des Moines. This translates into a massive supply of year-round visitors. With trends shifting to road trips becoming more popular, many guests come from a 5-6 hour drive time radius opening the market to visitors from places like Minneapolis, St. Louis, Indianapolis, and Omaha. This ideal proximity to feeder markets means access to a wide variety of demographics and helps keep Aldrich Guest House as busy as any future innkeepers want to be.
The Final Word
Aldrich Guest House is a turnkey business ready for the next owners to build on the success of the current owners. With many recent renovations keeping upkeep costs low and a high-performing business keeping revenue strong, the next owners will be set up to see a strong return on their investment. An established guest base, web presence, and social media means that new innkeepers will hit the ground running and will allow them to seamlessly transition Aldrich Guest House to their own unique vision.
The B&B Team is pleased to offer this viable Bed and Breakfast at $975,000.00.
Contact Eben Viens of The B&B Team, Inn Partners LLC for details on this special Galena Illinois bed and breakfast for sale.
Broker of Record: Joan Murray, Eagle Ridge Realty.
