Renaissance Chicago O’Hare Suites Hotel, IL

UNDER CONTRACT

• Lender owned 362-room all-suite Marriott Renaissance O’Hare Chicago
• Leasehold interest in the 2005 build asset offered at substantial discount to replacement cost
• Ability to relicense Marriott with a new long-term license agreement upon completion of a PIP
• Approximately 9,500 SF of flexible meeting & banquet space with onsite dedicated covered parking garage
• Strong residual operational upside in transitioning out of lender control and receiver management to regional investor with local operating economies of scale
• Readily accessible and directly visible from Interstate-90 with upwards of 200,000 vehicles passing the location daily
• Adjacent to the CTA Blue Line Cumberland ‘L’ stop with upwards of 180,000 daily passengers
• Property is situated within minutes of Chicago’s O’Hare International Airport – one of the top ten business airports in the world and host to 54MM passengers in recent years
• Approximately 2-miles from the 840,000 SF Donald E Stephens Convention Center with upwards 110 convention shows and more than one-million visitors annually in recent years
• Asset sits amidst 834,000SF Class-A Presidents Plaza office tower which has historically achieved rental rates 40% higher than average Chicago Suburban office rates
• Readily accessible to the Rosemont / O’hare entertainment corridor including Rivers Casino, Parkway Bank Park, the Fashion Outlets of Chicago, and the +18,000 capacity Allstate Arena
• Optimal time to be investing in Chicago’s north side amidst unprecedented development – including the Chicago Bears $2B planned “world class stadium” in neighboring Arlington Heights
• Opportune time to be investing in the O’hare corridor amidst the transformative ongoing $12.1B airport expansion and modernization