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Westin O'Hare Sells for $106M

ROSEMONT, IL-The hotel at 6100 N. River Rd. commands a price of $201,905 per room in a deal involving Starwood Hotels & Resorts Worldwide Inc. and JER Partners. The latter also bought the Westin Michigan Avenue earlier this year for $137 million.

By Mark Ruda | Updated on October 20, 2005

ROSEMONT, IL-JER Partners has paid $106 million for the Westin O’Hare here, buying the 525-room hotel at 6100 N. River Rd. from a joint venture led by Starwood Hotels & Resorts Worldwide, Inc. Earlier this year, McLean, VA-based JER Partners bought the 751-room Westin Michigan Avenue from a subsidiary of Westin Hotels LP, which was 25% owned by Starwood Hotels & Resorts Worldwide, for $137 million.

The sale was part of White Plains, NY-based Starwood Hotels & Resorts’ plan to sell $500 million in assets this year. However, the most recent deal puts the company’s 2005 sales volume past $1.1 billion. JER Partners had no immediate comment on their plans for the hotel, near O’Hare International Airport as well as the Kennedy Expressway and Chicago Transit Authority Blue Line.

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