Le Méridien Essex Chicago
CASE STUDY
Location: Chicago
Address: 800 S. Michigan Ave.
Rooms: 281 in hotel; 476 units in tower
OPPORTUNITY
Le Méridien Essex Chicago was an under-optimized hotel on Michigan Avenue, packaged with an adjacent parcel ripe for development into a multifamily tower. Directly across the street from Grant Park, the two properties offered incredible upside.
CHALLENGE
An outdated and complex ground lease on the parcel for the tower, and operational inefficiencies in the classic old hotel required creative solutions, comprehensive redevelopment and the right partnerships.
SOLUTION
Immediate operational improvements and programming a comprehensive redevelopment for the hotel have elevated its stature and the overall guest experience. Pre-development of the 476-unit, 55-story tower with urban roofscape and comprehensive amenities is primed for the accelerating downtown residential boom.
