The asset at 50 N. Martingale Rd. generated $3.6 million in earnings before interest, taxes, depreciation and amortization over the previous 12 months, according to Strategic Hotel Capital. The property is one of three put on the market this summer by Strategic Hotel Capital. In addition to the property along Route 53/I-290, the 390-room Lincolnshire Marriott Resort in that north suburb is being marketed along with a 333-room Embassy Suites in Lake Buena Vista, FL.

Earlier this summer, Procaccianti Group added the 345-key Doubletree Guest Suite property on Michigan Avenue to its portfolio as part of a five-property, $300-million deal with GE Asset Management, and is converting it to a Hilton Suites. The Schaumburg Marriott will become Procaccianti Group's second property in the Chicago market and fourth in the state. It already owns the 288-room Crowne Plaza and 140-room Holiday Inn Express in Springfield.

Strategic Hotel Capital's sales are part of a shift toward luxury properties, such as the recently-acquired Fairmont Hotel Downtown. The company paid $154.7 million for the 692-room hotel ay 200 N. Columbus Dr. At $224,000 per room, that is nearly four times what it is getting for the Schaumburg Marriott, within a mile of Woodfield Mall.