On the brink, Standard Club lists its historic Loop property for sale

The vintage building, which is in need of work, could be worth $15 million, but the land might fetch more

Chicago /
Mar.March 06, 2020 11:07 AM
320 South Plymouth Court (Credit: Google Maps)

320 South Plymouth Court (Credit: Google Maps)

A historic private club that’s fallen on hard times is listing its nearly century-old building in the Loop as the organization weighs its future.

CBRE was hired to find a buyer for part or all of the Standard Club’s 13-story building at 320 South Plymouth Court, Crain’s reported. As a whole, the building could be worth $15 million, but the land could be even more valuable given its prime location, sources told the publication.

The Standard Club is closing May 1 amid operating losses, declining membership, debt and inability to give the building a needed renovation. It hopes to find a way to continue on in a new home.

“We are optimistic that we will find a partner with whom we can enter into a synergistic business relationship,” the club said in a statement to Crain’s.

The vintage building, which is amenitized for hosting special events and social gatherings, could be a good candidate for a boutique hotel.

Several operators told Crain’s they’d be interested in pursuing a sale.

Another local private club, the Chicago Athletic Association, was forced to close its building at 12 South Michigan Avenue in 2007 and it eventually reopened under new owners as a boutique hotel, the Tribune reported.  [Crain’s]Brianna Kelly


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