CHICAGO-A venture organized by the Trivedi family purchased Homewood Suites, a 108-room hotel at 815 E. American Lane in northwest suburban Schaumburg, for $5 million. The venture acquired the hotel from a Natchitoches, LA-based investor group.
The investor group bought the hotel in 1999 for $10.5 million. The venture has plans to spend nearly $2 million to renovate the property. In the transaction, the buyer was represented by Skokie-based Re/Max 1st Class realty, and the seller was represented by Sperry Van Ness. For the full story, go to Crain's Chicago Business.
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