![](https://images.globest.com/cdn-cgi/image/format=auto,fit=contain/https:http://www.globest.com/media/images/gsnewshub_logo.gif)
CHICAGO-AJ Capital Partners LLC has partnered with John Pritzkerto transform the old Chicago Athletic Association building into ahotel with 240 to 260 rooms. A joint venture between Pritzker's SanFrancisco-based Geolo Capital and AJ Capital is purchasing thebuilding at 71 E. Madison St. and 12 S. Michigan Ave. for $13million from Dallas-based Lone Star Funds.
The total investment for the project will be about $60 million.The project is expected to be completed in early spring 2014.For the full story, go to Crain's Chicago Business .
GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.