Chicago Billionaire Sam Zell Reportedly Set to Sell Waldorf Astoria
Posted by Leo Clark. on Wednesday, February 11th, 2015 at 9:22am.
Back in 2011, Chicago Billionaire Sam Zell purchased 11 E. Walton, what was then known as the Elysian, for $95 million—a record setting per-room price at the time of $505k. Now fast forward roughly 5 years and Zell is looking to sell the 188 room hotel, now known as Waldorf-Astoria Chicago, and is expected to see a very strong return.
In New York, Hilton Holdings is in the midst of selling the Waldorf-Astoria at 301 Park Ave. to Chinese insurance conglomerate Anbang for a reported $1.95 billion, or about $1.4 million per room, and although Chicago real estate prices are nowhere near New York City’s, it’s a clear sign of just how much hotel values have risen in major markets like Manhattan and downtown Chicago.
Because the sale of Chicago’s Waldorf Astoria was just recently reported by Crain’s Chicago Business, details about price have yet to be disclosed, but with 111 W. Wacker selling earlier this month for more than $650,000 per unit, we could be on the verge of seeing Chicago’s first $1 million per room hotel deal in history.
Stay tuned for more information on this one...
WHAT'S AVAILABLE AT 11 E. WALTON ?
11 East Walton Street 4802
$5,200,000
- 3 Beds
- 4 Baths
- 4,000 SqFt
Rarely Available High "02" Tier 4000sf, Designer Home At The Esteemed Waldorf Astoria. Gorgeous ...
11 East Walton Street 3902
$4,300,000
- 3 Beds
- 4 Baths
- 4,000 SqFt
Rarely Available "02" Tier 4000sf, Designer Home At The Esteemed Waldorf Astoria. Gorgeous Lake V...
11 East Walton Street 5802
$3,700,000
- 3 Beds
- 4 Baths
- 2,650 SqFt
Presenting An Extraordinary Opportunity To Acquire An Exclusive And Exceptionally Rare 58th Floor...
11 East Walton Street 3901
$3,500,000
- 3 Beds
- 4 Baths
- 3,436 SqFt
Elegant Home At The Waldorf W/breathtaking Lake & City Views. Circular Coved Entryway W/custom Wa...
11 East Walton Street 3201
$3,350,000
- 2 Beds
- 3 Baths
- 4,008 SqFt
Introducing Unit 3201 At The Iconic Waldorf Astoria Chicago. This One Of A Kind 4,008 Square Foot...
11 East Walton Street 3101
$3,295,000
- 3 Beds
- 4 Baths
- 4,008 SqFt
Introducing An Exceptional Offering In The Luxurious Waldorf Astoria - An Exquisite And Rarely Av...
11 East Walton Street 4502
$2,995,000
- 3 Beds
- 4 Baths
- 3,436 SqFt
Nestled In The Heart Of Chicago's Prestigious Gold Coast Neighborhood, This Exquisite Corner (eas...
11 East Walton Street 4202
$35,000
- 3 Beds
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Stunning Lake Views From This Highly Upgraded Open Floor Plan Waldorf Home. Rarely Available Pote...
11 East Walton Street 4302
$27,500
- 3 Beds
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- 3,500 SqFt
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11 East Walton Street 3101
$23,000
- 3 Beds
- 4 Baths
- 4,008 SqFt
Introducing An Exceptional Offering In The Luxurious Waldorf Astoria - An Exquisite And Rarely Av...
11 East Walton Street 5802
$20,000
- 3 Beds
- 4 Baths
- 2,650 SqFt
Presenting An Extraordinary Opportunity To Acquire An Exclusive And Exceptionally Rare 58th Floor...