CHICAGO
An Oxford Capital Group, LLC led venture with Angelo, Gordon announced the $315 million sale and 25 year lease-management back of LondonHouse Chicago, to Germany's Union Investment Real Estate.
Scheduled to open Spring 2016, LondonHouse Chicago is Oxford Capital's latest luxury lifestyle hotel development. The hotel features 452-rooms located on Floors 3 – 22 of the Alfred S. Alschuler-designed London Guarantee & Accident Building, and the entire new 22-story architecturally synchronized Modernist glass tower designed by Chicago's Goettsch Partners.
Built on the site of historic Fort Dearborn in 1923, the London Accident & Guarantee Building is a both a local and national landmark, and one of the four iconic 1920s flanks of the North Michigan Avenue Bridge, along with the Wrigley Building, Tribune Tower, and 333 North Michigan Avenue.
The Oxford – Angelo, Gordon venture retains ownership of the separate 28,000-square-foot retail parcel on floors 1 and 2 of the 360 North Michigan Avenue building.
"We are delighted to announce an agreement with Union Investment for their second foray into the United States' hotel market,” said John W. Rutledge, founder, president and CEO of Oxford Capital. “We've had a wonderful experience to date with them around our similar Godfrey Boston transaction."
The luxury lifestyle, full-service LondonHouse Chicago, is located on the corner of North Michigan Avenue and Wacker Drive. LondonHouse will offer 452 luxury guest rooms and suites featuring expansive views of many city landmarks. Amenities include LH, Chicago's first tri-level rooftop venue featuring a private Cupola level, outdoor rooftop terrace, an indoor bar with private dining rooms, a chef-driven restaurant and lobby bar, and 25,000 square feet of conference and event space.
The venue will offer a variety of meeting and event spaces for both small and large groups as well as two column-free ballrooms for social dinners and weddings of up to 300 guests, or receptions for 350+.
LondonHouse Chicago is affiliated with the Curio Collection Hotels by Hilton Worldwide.
