Listing Agents
Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com
Andrew Makhlouf
312.610.9067
amakhlouf@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee-simple interest in the 279-room Ambassador Hotel Downtown Chicago, IL
- Core Gold Coast location is centrally located within ultra-high barrier to entry downtown Chicago CBD and one of the country’s most affluent neighborhoods
- Favorable recent downtown office announcements including Google acquisition of the 17-story Thompson Center and the Kellogg corporate HQ relocation to Chicago office
- Walking distance to all core area leisure demand – including Michigan Avenue, Navy Pier, Millennium Park, the Chicago River Front, the Chicago Lake Front, and the now approved $1.7B Bally’s Casino development
- Walking distance to all downtown University demand – including the downtown campuses of Northwestern University, DePaul University, and Loyola University; Walk Score of Walker’s Paradise (98)
- Walking distance to the Chicago History Museum, Lincoln Park, North Avenue Beach, International Museum of Surgical Science, and the Original Playboy Mansion
- Easily accessible to Chicago’s two primary airports – Midway International which recently completed a $74MM renovation, and O’Hare International Airport poised for a massing $8.5B expansion and modernization
- Ideally located in the Chicago MSA, home to approximately 9.4MM people – the third largest MSA in the US
- Ideal time to be investing in the Chicago hotel market amidst numerous corporate relocations to downtown Chicago, continued Chicago population growth, and the 2024 Democratic National Convention scheduled for August 2024