Thompson Chicago Hotel Is on the Market
After a stellar first half of 2015, we could see more record-setting hotel sales in Chicago. Walton Street Capital and AJ Capital Partners have put the Thompson Chicago Hotel on the market and hired Eastdil Secured to entertain buyers. Many owners can't resist the urge to sell, with RevPAR up 12.9% over the first six months of 2014. Blockbuster deals like Sam Zell's $112M sale of the Waldorf Astoria Chicago to Laurence Geller also indicate the market is booming. Walton Street already is entertaining bids on the Hotel Lincoln. AJ Capital CEO Ben Weprin believes the 247-room Thompson Chicago (21 E Bellevue Place) could fetch more per room than the Waldorf Astoria, according to Crain's. AJ Capital and Walton Street paid $64M for the former Sutton Place Hotel in 2011. It was rechristened the Thompson Chicago two years ago. [Crain's]
