EVANSTON, Ill.
JLL's Hotels & Hospitality Group (JLL) announced the sale of the 269-room Hilton Orrington/Evanston, on behalf of The Carlyle Group and The Dow Hotel Company, to Olshan Properties for $60 million.
JLL said it generated strong investor interest in the North Shore's full-service hotel due to the property's location and exceptional operating fundamentals, which added to the value of the Hilton Orrington. Olshan Properties, the new owner of the hotel, is based out of New York.
The AAA Four Diamond hotel features nearly 25,000 square feet of meeting space, two distinguished historic ballrooms and is home to both Farmhouse Restaurant as well as eTown Bistro.
The historic Hilton Orrington is located a short walk from the shores of Lake Michigan, two blocks from Northwestern University's main campus, in the heart of Evanston's downtown core; and in close proximity to downtown Chicago. The hotel completed a comprehensive renovation in early 2015 and is looking to capture corporate, group and leisure demand in Chicago's near-northern suburbs.
