Pyramid Advisors LLC, which owns the 318-room Radisson Hotel Northbrook, bought the property on 25 acres next to the Oakbrook Mall from Chicago-based Hyatt Corp. Although terms were not disclosed, the property is worth $25 million, according to its most recent property tax assessment. The asset includes 30,000 sf of meeting space in 16 conference rooms, three boardrooms, two ballrooms and executive training center. Amenities include a 4,000-sf fitness center.

Despite the switch from the Hyatt to Doubletree flag, the staff at the hotel will likely remain intact, Pyramid Advisors chief operating officer Jim Dina. His company owns or manages 30 hotels across the US.

Pyramid Advisors converted the Northbrook property from an Adam's Mark to a Radisson and embarked on a renovation program. "We plan to continue to grow our presence in the Chicago area and will seek other similar full-service, high-quality properties here," says Pyramid Advisors partner and chief investment officer Warren Fields.