JV Invests $64M in Sutton Place Hotel in Chicago

A joint venture of AJ Capital Partners and Walton Street Capital LLC acquired the 22-story Sutton Place Hotel in Chicago, IL, from Hong Kong-based owner Christopher Ho Wing On for $ 64 million, or about $ 260,163 per room.

The hotel, delivered in 1988 at 21 E. Bellevue Place, totals 223,123 square feet and houses approximately 246 rooms with an average daily rate of $ 185.

Peter Greene of CBRE represented the seller. The buyers did not have outside…
National Commercial Real Estate News From CoStar Group