The project won a favorable recommendation recently from the plan commission, which supported a zoning change that would allow more than three times the current building size on the 18,900-sf site. The planned development, expected to be approved by the city council, would allow more than 130,000 sf to be built on the property owned by Virendrakuman Patel.
Although the current hotel competes against a Days Inn on the same block, a study by DePaul University revealed the need for additional hotel rooms in the high-density Lincoln Park neighborhood, says 43rd Ward Alderman Vi Daley. "I think this is a great project for our community," she says.
The 23,500-sf building was constructed in 1918, according to property records. "The rooms are very substandard in that hotel," adds architect Joseph Antunovich.
The new Inn at Lincoln Park will have 105 guest rooms plus 45 extended-stay suites on the upper four floors, according to plans drawn up by Antunovich Associates. It also will include 76 parking spaces in a garage.
Patel's LVM Illinois Corp. paid $3.2 million for the hotel in 1994, according to property records. Recent property tax assessments suggest the existing hotel could be worth $6 million.
The project won support from the Park West Association and Lincoln Park Chamber of Commerce, as well as 43rd Ward Alderman Tom Tunney, who represents an area immediately to the north.
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