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Hilton Orrington/Evanston owners receive $50 million foreclosure suit
The Hilton Orrington/Evanston’s owners are slated to give up possession of the hotel in the wake of a $50 million lawsuit.
The hotel, owned by New York-based real estate firm Olshan Properties, was bought in 2015 for $60 million. The firm has failed to make its mortgage payments since August, and plans to hand over the keys to the building as a result. The lawsuit was filed by Deutsche Bank on behalf of investors in Olshan Properties’ loan on the hotel, Crain’s Chicago Business reported on Friday.
The complaint, which was filed Thursday in Cook County Circuit Court, asks a judge to order a public auction to sell the property and appoint a receiver for the hotel.
Just six weeks before Northwestern underclassmen were slated to return to campus, the Hilton Orrington/Evanston temporarily closed, citing pandemic concerns.
According to a Nov. 18, 2020, email sent to customers with upcoming reservations, the hotel was temporarily shutting down and canceling all reservations. The email, signed by the Hilton Customer Care Team, said the customers would not be charged and offered to connect them with other hotels in the area.
“Due to the current travel environment, Hilton Orrington/Evanston has temporarily suspended operations and unfortunately will not be able to honor your reservation,” the email read. “Please accept our sincerest apologies for this short notice on the travel disruption and any inconvenience this may cause.”