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CHICAGO-WexTrust Capital, through its affiliate Gold Coast Investors, LLC, has acquired the former 221-room Days Inn in the Lincoln Park neighborhood from 1800 N. Lincoln, LLC. Following an extensive multimillion-dollar renovation scheduled to begin later this year, the hotel will re-open in the spring of 2007 with a new name and be operated as an independent boutique lodging destination.

According to WexTrust representatives, the hotel has disassociated with the Days Inn brand, and for the balance of 2006 travel season, the property will be operated as the Gold Coast Hotel. Once renovations are complete, the hotel will include 196 fully appointed guest rooms, a reconfigured lobby-lounge area, 2,000 sf of meeting space, a fully equipped fitness center, independently operated spa services, and a new restaurant concept. Interior design and architectural services are being supervised by locally based Gettys Group, and the hotel will be managed by locally based Portfolio Hotels & Resorts.

“This was an under-utilized hotel in a prime location that we felt offered an excellent redevelopment opportunity,” says Michael Kochevar, senior vice president of acquisition and development at WexTrust Capital.

WexTrust’s retail leasing division vice president Edward L. Dushman says the company has been approached by many high-profile restaurateurs inquiring about plans for the lobby-level lounge and restaurant area. “It certainly did not surprise us at all,” Dushman says, “when you consider our location, the property is at the nexus of the Gold Coast, Lincoln Park and Old Town.”

In addition to the Gold Coast Hotel, Portfolio Hotels & Resorts operates the 106-room Orchard Hotel in San Francisco; the 215-room Doubletree Hotel Los Angeles International Airport; the 285-room Ambassador East Hotel and Pump Room restaurant in Chicago; the 113-room Courtyard Cleveland Beachwood by Marriott in Beachwood, OH; and the 426-room Holiday Inn Select Naperville. Most recently, the operator was selected to manage the 86-room Orchard Garden Hotel in San Francisco; the 144-room La Quinta Inn and Suites and the 260-room Hilton Suites both in Des Plaines. The three properties are currently under construction.

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