Developer Lands $94M Construction Loan for River North Hotels

CHICAGO-Merrillville, Indiana-based White Lodging Services Corp. has secured $94.2 million in construction loan from U.S. Bank N.A. for a three-hotel project in River North.

By GlobeSt News Hub | January 17, 2012 at 01:01 AM

CHICAGO-Merrillville, Indiana-based White Lodging Services Corp. has secured $94.2 million in construction loan from U.S. Bank N.A. for a three-hotel project in River North. A venture including White Lodging Services and Albert Friedman is planning to construct three hotels totaling 657 rooms at 501 N. Clark St.

The planned trio of 16-story hotels will combine Starwood Hotels & Resorts Inc.'s 272-room Aloft; Marriott's 77-room Fairfield Inn & Suites; and Chicago-based Hyatt Hotels Corp.'s 208-room Hyatt Place. For the full story, go to Crain's Chicago Business .

GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

NOT FOR REPRINT

1 Experts Warn Housing Could Be the Tipping Point for the Next Recession

2 CRE Loan Performance Deteriorates, Heightening Concerns for Lenders and Investors

3 Last Year’s Multifamily Doubters Reverse Course

4 Bravo Property Partnership To Deploy up to $800M on Construction and Bridge Loans

5 Investors Pull Back as CRE Sales Slip in April

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Consulting
Consulting Top Consultants 2025
June 26, 2025 - New York

Consulting Magazine identifies consultants that have the biggest impact on their clients, firms and the profession.
More Information

Mental Health, Wellness Programs Are Key Business Strategy

By Emily Payne | April 29, 2019

Companies are waking up to the impact of mental health on business goals and putting strategies in place to improve.

Mental Health, Wellness Programs Are Key Business Strategy

Landlord Entitled to Limited Additional Rent

By Igor Pleskov and Ian M. Livaich | April 29, 2019

On April 9, the Pennsylvania Superior Court held that a commercial landlord was entitled to recover certain portions of unpaid additional rent under a lease agreement but limited the landlord's recovery based on the statute of limitations.

Landlord Entitled to Limited Additional Rent

How Goodwin Became a Household Name in Startup Community

By Xiumei Dong | April 29, 2019

“We are looking to grow our footprint at this point,” said partner Lynda Galligan, who has led the firm's California growth. “We have everything covered, it's just a matter of growth.”