Landmark riverfront building to house 330 guestrooms and suites in Five-Star property
Chicago's historic and scenic riverfront soon will have a new high-end business hotel when the Langham Chicago Hotel opens for business in 2012. Oxford Capital Group and Langham Hotels and Resorts unveiled plans in January to develop a luxury hotel in the former IBM building at 330 North Wabash—a long-time Chicago landmark building designed by Mies van der Rohe. The property is located on the Chicago River and right across the street from the Trump International Hotel & Tower Chicago.
Pacific Eagle Holdings, a U.S.-based affiliate of Langham, acquired the real estate from LaSalle Hotel Properties for $58.8 million. Published reports have put the price
tag in the neighborhood of $100 million for the new property, which will occupy floors 2 through 13.
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