Photo: Erol Ahmed / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. Seven hotels, 1,057 rooms and one airport. The price was half of what it was 20 years ago. RLJ Lodging Trust has sold seven hotels clustered along South Cicero Avenue near Chicago's Midway International Airport for $68 million, according to The Real Deal. The buyer is Endeavor Hotels, an Oakbrook Terrace firm led by Vishal Thakkar. RLJ paid about $139 million for the…
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Chicago’s Midway Hotels Sold for Half Their 2006 Price. The New Owner Borrowed More Than He Paid.
Seven hotels near Chicago Midway sold for $68 million, roughly half their 2006 price. The emailed report examines the $90 million financing and portfolio risks.
