X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-San Francisco-based Oxford Lodging Advisory & Investment Group LLC plans to spend more than $35 million on renovations for three of its Chicago hotels. Renovations are planned for the Allerton Hotel, the Best Western Inn of Chicago and the Holiday Inn Chicago City Center.

More than $20 million in renovations are planned for the Chicago City Center Hotel, 300 E. Ohio St., which was recently purchased by Oxford Lodging for more than $80 million. “The property will undergo a $20-million-plus renovation addressing every facet of the hotel including the lobby, restaurants, all meeting space, guestrooms, guest bathrooms, corridors, outdoor pool deck and other public areas,” says Maki Bara, managing partner and co-founder of Oxford Lodging. The hotel restaurants will also be “revamped,” she says. The hotel will remain open during the renovations, which should be complete early next year.

The 25-story Allerton Hotel, 701 N. Michigan Ave., will undergo a renovation estimated at more than $10 million. Oxford Lodging purchased the 443-room Allerton Hotel, which is a Chicago historic landmark, in November 2006. Retail on the first floor of the building was not included in the sale. As part of the renovations, all of the guest rooms will be refurbished with new beds, bedding, furniture, carpets and drapes, Bara says.

The lobby of the Allerton Hotel will be moved to the second floor from its current third floor location and will be renovated into a “lobby lounge” where guests can surf the internet from their laptops, enjoy tea in the afternoon and enjoy a drink in the evening in a “relaxed and hip” atmosphere, Bara says. The third floor will be converted to a ballroom and meeting space.

The Allerton Hotel will also relinquish its affiliation with the Crowne Plaza and be operated as an independent hotel called “The Allerton Hotel-The Landmark on Michigan Avenue.” The hotel will remain open during the renovations.

Best Western Inn of Chicago, which Oxford Lodging recently refinanced for $57.2 million, is also undergoing renovations. Oxford bought the 357-room hotel at 162 E. Ohio St. in February 2006. Renovations began in September 2006 and are expected to be complete by May 2007. Renovations include redesigning the lobby, refurbishing guest bathrooms and upgrading the guestrooms with new beds, bedding, carpet, furniture and window treatments, Bara says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.