Akara Partners, a real estate direct-investment, development and operations firm based in Chicago, has completed Home2 Suites by Hilton Chicago River North, a 17-story extended stay hotel located at 110 W. Huron Street. The $67 million, 120,000 square-foot building was designed by Norr Architects under a design-build arrangement with Mortenson.
“Rapid business and residential growth in River North created a need for extended stay and suite hotels,” said Rajen Shastri, founder and CEO of Akara. “We found a great partner in Home2 Suites by Hilton, which gets high ratings for service quality in all its locations.”
The hotel includes 206 suites featuring free Wi-Fi, 49inch HDTVs, sleeper sofas, sitting areas and full kitchens with full-size refrigerator/freezers, microwaves and dishwashers. On-site amenities include a 24-hour business center, snack bar/deli, outdoor fire pit and a combined fitness/laundry facility.
Nearby business and tourist destinations include the Chinese Consulate, Chicago Water Tower, John Hancock Center and the Chicago Riverwalk. The development also includes 5,000 square feet of retail space on two levels, solicited for lease by David Goldberg of GoldStreet Partners.
Other developments by Akara include The Hensley in River North, Kenect in River West and LINKT in West Town. Akara is also active in Nashville, Phoenix, Denver and Cleveland. Mortenson has developed more than $600 million of hotel projects across the United States in the past five years. It also has extensive hotel building experience with completing more than 100 new construction and renovation projects, including modernizing the Cambria Hotel on East Superior Street and the Hilton Chicago on South Michigan Avenue.
