Who owns waldorf astoria chicago

The Geller venture defaulted on its loans and last year the property was taken back by lenders Wells Fargo Bank and a debt fund of Chicago developer Walton Street Capital. Since then, hotel values have plunged further as the travel industry has been devastated by the coronavirus pandemic.

The deal is an example of the type of discounted opportunities family offices and other well-capitalized investors with a long-term view could find amid the economic devastation brought on by the public health crisis. Lodging Capital Partners declined to elaborate on long-term plans for the hotel at 11 E. Walton St. The building, designed by architect Lucien Lagrange and developed by David Pisor, was known as the Elysian when it opened in Skip to content.

The Waldorf Astoria Hotel in Phil Velasquez, Chicago Tribune. Billionaire entrepreneur Joe Mansueto is buying the Waldorf Astoria Chicago, a year after its lender seized control of the key Gold Coast hotel in foreclosure proceedings. The seller is Walton Street Capital. The Real Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry. By clicking Subscribe you agree to our Privacy Policy.

Javascript is disabled in your web browser. November 09, PM. Related Articles. Hilton Chicago Magnificent Mile transferred to lender amid pandemic struggles. Drake Hotel, host to royals and mobsters alike, hits market. Cut rate: Suburban DoubleTree sells for a song. Blackstone Hotel hits market as it sets to reopen. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.

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