Just when you think things might finally start to cool down when it comes to hotel development in downtown Chicago, two developers have apparently filed zoning applications to build out two new hotels in River North that would add another 399 rooms to the already bustling hotel market.
As reported by DNAinfo, Chicago-based Akara Partners are looking to develop a 17-story, 200-room hotel at Huron and Clark, which is right around 5 blocks west from the famed Magnificent Mile. The vacant lot at 100 W. Huron was actually purchased last year by Akara with plans to develop condos, but the slow condo market delayed the project and apparently a new hotel seems to be the new direction they’re heading.
Just a few blocks south at Lasalle and Hubbard, another Michigan-based developer is also looking to build a 17-story hotel that would include 199 rooms. Currently a parking lot, the site at 430-438 N. Lasalle was previously being marketed for a retail project by Midwest Property Group, but also noted by DNAinfo, another hotel may ultimately be what takes over this prime piece of downtown property.
With nothing yet official, it’s important to note that each project still needs to be approved by the City Council. Should each hotel development eventually move forward, however, it would only add to the biggest hotel development boom Chicago has seen in 30 years.