Hunter Advisors has brokered the sale of the Homewood Suites Chicago-Downtown, a 233-room, extended-stay hotel located one block from the Magnificent Mile.
The hotel, located within walking distance of the Chicago River, occupies floors 6 through 19 of a 19-story building and offers apartment-style accommodations with fully equipped kitchens and separate living and sleeping areas.
Amenities include 1,784 sq. ft. of meeting space, a rooftop indoor pool and fitness center with skyline views, a business center and complimentary breakfast.
The hotel benefits from a downtown location in Chicago’s most active commercial and tourism corridor, surrounded by high-end retail, dining and major demand drivers that attract millions of visitors annually.
The transaction was led by Spencer Davidson, SVP, and Riana Stadlen, VP.
“This was a rare opportunity to acquire a well-located, institutional-quality extended-stay asset in one of the country’s most supply-constrained urban markets,” said Davidson. “The combination of brand, location and clear operational upside drove strong investor interest.”
The property offers meaningful value-add potential through the completion of a property improvement plan and operational enhancements, with the opportunity to improve performance relative to its competitive set.
“With limited new supply and high barriers to entry along the Magnificent Mile, assets like this continue to attract long-term capital,” said Stadlen. “This transaction reflects continued demand for well-positioned assets in top-tier urban markets.”
Chicago remains one of the nation’s leading economic centers, with a population of approximately 9.5 million in the metro area and a diverse base of corporate headquarters and global employers supporting long-term lodging demand.
The offering generated interest from a broad pool of qualified investors seeking exposure to institutional-quality assets in major gateway markets.
