CHICAGO - CBRE Hotels, acting as the exclusive advisor to Cornerstone Real Estate Advisers LLC, announced the sale of the Amalfi Hotel Chicago, a fee simple vertical subdivision interest, located at 20 West Kinzie St. Termsof the deal were not released.
The hotel was sold in December to a partnership composed of a private investment firm and affiliates of the Harp Group and Portfolio Hotels & Resorts.
The 215-room property is located on six floors one of the 382,321 square foot Dearborn Plaza Building.
With a vibrant downtown location in the River North entertainment district, the hotel is near restaurants, retail and services. It is also close to the city's Magnificent Mile and State Street shopping areas, Loop Financial District, Chicago's Theater District and Millennium Park.
CBRE Hotels's Sevor Vice President John Karver said that the hotel's location, combined with a good reputation, made it an investment that is well positioned to benefit from future growth in Chicago's corporate, group and leisure demand segments.
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