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JV Purchases Downtown Hotel for $80M Plus

CHICAGO-The Holiday Inn will be renamed the Chicago City Centre Hotel & Sports Club.

By Gina Kenny | Updated on February 08, 2007

CHICAGO-A joint venture between San Francisco-based Oxford Lodging Advisory & Investment Group LLC and Dubai Investment Group have purchased the Holiday Inn City Centre at 300 E. Ohio St. for more than $80 million.

Jones Lang LaSalle Hotels arranged the sale on behalf of the seller, the Teachers’ Retirement System of the State of Illinois. The joint venture, CCC Hotel Partners LLC, purchased the 495-room hotel for an amount in the mid-$80 million range, sources tell GlobeSt.com.

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