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Commercial
Chicago

Loews Hotels takes out $57M mortgage on Streeterville property

The New York-based chain owns the 14-story hotel in the tower

The Loews Hotel in Streeterville (Credit: Loews Hotels)
The Loews Hotel in Streeterville (Credit: Loews Hotels)

Loews Hotels has secured a $56.5 million mortgage from Jackson National Life Insurance Company on its 14-story Streeterville property.

Loews bought the 400-key hotel portion of the 52-story tower for $156 million in February 2015 from DRW Trading of Chicago, a month before the hotel formally opened. The tower is located at 455 North Park Drive.

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In January 2016, DRW sold the 398 apartments on the remaining floors in the building to Atlanta-based Invesco for $240 million.

Research by Laura Hanrahan

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Commercial Real EstateDowntownStreeterville