Hunter Advisors negotiated the sale of the Homewood Suites Chicago-Downtown, a 233-room, extended-stay hotel in Chicago.
The transaction was led by Spencer Davidson, Senior Vice President, and Riana Stadlen, Vice President, at Hunter Advisors.
Located at 40 East Grand Avenue, the Homewood Suites Chicago-Downtown is a Hilton-branded, all-suite hotel positioned one block from the Magnificent Mile and within walking distance of the Chicago River. The property 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 square feet of meeting space, a rooftop indoor pool and fitness center with skyline views, a business center, and complimentary breakfast.
The hotel benefits from a premier downtown location in the heart of Chicago’s most active commercial and tourism corridor, surrounded by high-end retail, dining, and major demand drivers that attract millions of visitors annually.
“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 Spencer Davidson, Senior Vice President at Hunter Advisors. “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 opportunity to improve performance relative to its competitive set.
