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St. Regis Chicago hotel fetched $134M

Updated: Jun 8, 2023


Chicago’s St. Regis hotel sold for about $134 million, The Real Deal has learned, making it the city’s biggest hotel sale in years.


The buyer, a joint venture of Miami-based Gencom and Denver-based GD Holdings, came close to setting a Chicago record for the price per room it paid for the 192-key asset at about $700,000, a person familiar with the transaction said.


The firms finalized their acquisition from seller and developer Magellan Development Group as the St. Regis Chicago hotel opened this week following multiple delays. Occupying the first 11 floors of the wave-shaped towers at 363 East Wacker Drive that contain the city’s priciest condos, the hotel is one of few luxury hotels to open in downtown Chicago in the last decade.




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