CHICAGO-Annapolis, Maryland-based Chesapeake Lodging Trust, which bought the W Chicago City Center located in the Loop nearly 15 months ago, has now acquired W Chicago-Lakeshore, a 520-room hotel at 644 N. Lake Shore Drive, for $126 million. The REIT, which paid nearly $242,000 per room for the property, is planning to spend between $35 million and $38 million to renovate the lakefront hotel.
Starwood Hotels & Resorts Worldwide Inc. was the seller. It will continue to manage the hotel. For the full story, go to New York Post .
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