Check Out These Hotel Investment Opportunities in Chicago
- Aug 07, 2015
Savills Studley’s U.S. Capital Markets – Hotel Group, acting as the owner’s exclusive agent, is marketing for sale two high-end lodging facilities located in the Chicago area.
Renaissance Chicago North Shore Hotel and DoubleTree Suites by Hilton & Conference Center Downers Grove are both unencumbered by debt or management, with franchise agreements that expire in 2021. While they share a common institutional owner, there could be separate buyers for each property.
Renaissance Chicago North Shore is a luxury, AAA rated four diamond hotel located at 933 Skokie Blvd. in Northbrook, a popular northern suburb of Chicago. The recently renovated property features 385 guestrooms, including three suites, as well as two separate dining establishments–The Pancetta Regional Kitchen and Bar which features Italian fare–and Ruth’s Chris Steakhouse. Other amenities include nearly 19,000 square feet of functional meeting space, an indoor pool and whirlpool, fitness center, and business center. Guests have access to an array of nearby attractions, such as Northwestern University and the Chicago Botanic Gardens, and can easily reach O’Hare and Midway International Airports.
Located in Downers Grove, the 250-key DoubleTree Suites by Hilton & Conference Center boasts a Gold Status on the IACC Green Star Survey. Guests may enjoy an indoor swimming pool, business center, two food and beverage options, gift shop, outdoor parking, 35,000 square feet of functional meeting space, and a vast fitness and recreational facility. Furthermore, the hotel offers conference center space, which it leases from the adjacent office building.
“There is a great amount of investment potential in the Chicago hotel market, as evidenced by these exceptional properties,” Said Marc Magazine, executive managing director of Savills Studley’s U.S. Capital Markets Hotel Group.
Photo credits: www.marriott.com