CHICAGO-A venture of Fullwel Management Inc. based in Foster City, California, has purchased a 243-room Holiday Inn located at 495 Airport Road in northwest suburban Elgin for $4.2 million, which is only 30% of the loan amount owned by the hotel.
The seller was an affiliate of S&L Hospitality based in Fitchburg, Wisconsin. The seller secured a loan worth $14.5 million on the hotel in 2007. Alliance Real Estate Advisors' Edward Carr handled the sale of the property.For the full story, go to Crain's Chicago Business.
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