312-228-2376
20 E Chestnut St, Chicago, IL for Sale
Hospitality - FOR SALE
1/4
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20 E Chestnut St
Chicago, IL 60611
Gold Coast


HIGHLIGHTS

  • Iconic 32-story prism-shaped tower designed by Jean-Paul Viguier
  • 415 guestrooms, including 61 suites, with oversized windows and luxury finishes.
  • Prime Gold Coast location near Magnificent Mile, Oak Street, and Rush Street dining.
  • Approximately 13,000 square feet of event space, including a 4,600-square-foot Grand Ballroom.
  • Recent $12.8 million guestroom renovation and $20 million in capital improvements since 2014.
  • Offered fee-simple with management flexibility and Sofitel brand affiliation through 2041.

OVERVIEW

Sofitel Chicago Magnificent Mile presents a rare opportunity to acquire a premier luxury hotel in the heart of Chicago’s prestigious Gold Coast neighborhood. This 415-key property, including 61 suites, is housed in an iconic 32-story prism-shaped tower designed by renowned French architect Jean-Paul Viguier. The hotel underwent a $12.8 million guestroom renovation in 2018 and has seen over $20 million in capital improvements since 2014, ensuring exceptional physical condition and long-term value. The property benefits from its prime location just two blocks west of the Magnificent Mile and one block south of Oak Street’s luxury retail corridor, offering unparalleled access to Chicago’s top dining, shopping, and cultural attractions. With approximately 13,000 square feet of event space, including a 4,600-square-foot Grand Ballroom, and multiple French-inspired dining venues, the hotel is well-positioned to capture both leisure and corporate demand. Offered fee-simple and unencumbered by management, the asset provides operational flexibility and strong brand affiliation under Sofitel by Accor, with a franchise agreement in place through December 31, 2041. This investment combines irreplaceable real estate with significant upside potential in one of the nation’s highest ADR-performing markets.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF ROOMS

415

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sofitel Chicago Magnificent Mile

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

32

ROOM ENTRANCE

Interior

BUILDING CLASS

A

YEAR BUILT

2002

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,841 SF

ZONING

DX-12

APN/PARCEL ID

17-03-216-007-0000,17-03-216-014-0000,17-03-216-015-0000,17-03-216-016-0000,17-03-216-017-0000,17-03-216-018-0000,17-03-216-026-0000,17-03-216-027-0000,17-03-216-028-0000

ASK ABOUT THIS PROPERTY

312-228-2376

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312-228-2376

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