Paramount Lodging Advisors (PLA) Closes Landmark Tremont Hotel Transaction in Chicago’s Gold Coast
Paramount Lodging Advisors (PLA) announced today the successful sale of a landmark hotel asset, the Tremont Hotel, a historically significant property located in Chicago’s iconic Gold Coast neighborhood. The transaction reinforces PLA’s position as a trusted advisor on complex, high profile urban hotel assets.
The Tremont Hotel carries a legacy that is deeply intertwined with the history of Chicago and American hospitality, with origins tied directly to the original Tremont House, widely recognized as Chicago’s first major hotel and a foundational force in the city’s early hospitality market. Established at Lake and Dearborn Streets, the Tremont House set early standards for urban lodging and evolved through four successive buildings during the 19th century, mirroring Chicago’s rapid growth and emergence as a national commercial center.
The property became emblematic of the city’s ingenuity during Chicago’s landmark street-raising project, when the hotel was famously lifted intact to meet new street levels, underscoring both its importance and resilience. This enduring legacy elevates the Tremont name beyond a single asset, positioning it as one of Chicago’s most historically significant hospitality properties and amplifying the importance of this successful transaction.
The transaction was led by Sanjeev Misra, Founder and Managing Broker of Paramount Lodging Advisors, and marks a pivotal moment for the Tremont Hotel, a property that has long been part of Chicago’s architectural and hospitality fabric. Located just steps from Michigan Avenue in one of the city’s most affluent and supply constrained submarkets, the Tremont Hotel has served as a cornerstone of the Gold Coast hospitality landscape for generations.
“This closing represents far more than a hotel sale,” said Sanjeev Misra, Founder and Managing Broker of Paramount Lodging Advisors. “The Tremont Hotel is a historic Gold Coast building with deep roots in Chicago’s hospitality market. Successfully navigating a transaction of this caliber requires not only market expertise, but also an appreciation for the asset’s legacy and its future potential. We are proud to have delivered a result that reflects both.”
The transaction underscores continued investor confidence in irreplaceable, urban hospitality real estate. Demand remains strong for well-located assets with long term strategic value, particularly in Chicago’s Gold Coast, where zoning constraints and limited new supply continue to support enduring fundamentals despite broader capital markets volatility.
Paramount Lodging Advisors provided comprehensive advisory services throughout the transaction, leveraging its institutional underwriting capabilities, national relationships, and hands on execution approach. PLA guided the process from strategic positioning through successful closing.
“This transaction highlights exactly where Paramount Lodging Advisors excels,” Misra added. “We focus on complex assets where thoughtful strategy, disciplined execution, and deep market knowledge materially impact outcomes.”
The closing further builds on PLA’s expanding national track record advising owners and investors on hospitality assets across major U.S. gateway markets, with a particular emphasis on urban hotels, historic properties, and value driven opportunities.
To learn more about our expertise, recent transactions, and working with our team, visit www.ParamountLodging.com.
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