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Big Hotel Proposals Take Shape in Chicago

(Clockwise) Sterling Bay’s Andy Gloor and Bank OZK’s George Gleason with rendering of Lincoln Yards (Sterling Bay, Bank OZK), Accesso Partners’ Moises Benzaquen, Hamilton Partners’ Ron Lunt and CW Capital’s David Iannarone with 2001 Butterfield Road (Accesso Partners, Hamilton Partners, LinkedIn, Google Maps, Getty), Barack Obama with a rendering of The Obama Center and a rendering of Aquinnah Investment Trust’s plans for the hotel (Getty, Obama.org, Stantec), Shapack Partners’ Jeff Shapack, CRG’s Shawn Clark and Global Ambassador’s Sam Fox with rendering of 170 North Green Street (World Business Chicago, CRG, Sam Fox via Instagram, Lamar Johnson Collaborative), (Center) Neighborhood Building Owner’s Alliance’s Michael Glasser and Chicagoland Apartments Association’s Mike Mini (Getty, Neighborhood Building Owner’s Alliance, Chicagoland Apartments Association)

Development
Chicago
Mar 23, 2025

Big hotel proposals take shape in The Windy City

Plus, haggling over troubled debts and negotiating new ones remains front and center, and more Chicagoland stories from this week
Newly retired former Clayco CEO Russ Burns dies at 65
Development
Chicago
Mar 21, 2025

Newly retired former Clayco CEO Russ Burns dies at 65

Spent over 40 years as an executive at major contractors, including 23 as president, CEO of Chicago-based conglomerate
Bank OZK Writedown Swells to $38M for Stalled Lincoln Yards Debt
Development
Chicago
Mar 21, 2025

Bank OZK writedown swells to $38M on Sterling Bay’s Lincoln Yards

Lender made a second chargeoff of $17M after placing developer’s $128M loan on substandard non-accrual status last year
Fulton Market Developers Lock Down Global Ambassador Hotel
Development
Chicago
Mar 21, 2025

CRG, Shapack in talks with Global Ambassador for Fulton Market hotel

Lodging brand started by restaurateur Sam Fox in Arizona eyeing mixed-use project in Chicago’s hottest CRE neighborhood