226 W. Jackson Blvd., Chicago
CHICAGO—Locally-based Phoenix Development Partners' redevelopment of a storied 14-story office building into a dual-branded hotel will be funded in part by $9.5 million in crowdfunding raised on online platform CrowdStreet.
Phoenix Development recently acquired the 238,000-square-foot building located across the street from Willis Tower in Downtown Chicago from City Colleges of Chicago for $32.7 million. The building was designed by Frost and Granger and completed in 1904, according to Chicago Architecture.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
