CHICAGO-The lenders on InterContinental Chicago O'Hare, a 556-room hotel at 5300 N. River Road in Rosemont, are ready to take over the property two years after its original developer asked for bankruptcy protection. Amalgamated Bank and U.S. Bank N.A. will take ownership of the hotel from a group headed by Rosemont-based Harp Group Inc. under a restructuring plan certified last month by a bankruptcy judge.
Harp ventures owed more than $140 million to the two lenders. Hostmark Hospitality Group will manage the hotel. For the full story, go to Crain's Chicago Business .
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