Streeterville hotel owner, lender seek separate cash-outs
With Guggenheim trying to sell the mortgage it holds on the Hampton Inn/Homewood Suites Mag Mile, Arbor Lodging just put the property itself on the market.
The Hampton Inn/Homewood Suites Mag Mile at 160 E. Huron St.
Some hotel owners and lenders are battling over what their properties are worth amid the COVID-19 crisis. In Streeterville, one pair is taking different approaches to let the market tell them.
Just weeks after Chicago-based Guggenheim Investments put up for sale its nearly $30 million loan on the Hampton Inn/Homewood Suites Mag Mile in a bid to tap out of the pandemic-stung downtown hospitality sector, Chicago-based hotel owner Arbor Lodging Partners this week formally put the hotel itself on the market.