While one high profile downtown Chicago hotel is currently being planned, another is now being listed for sale. According to reports from Crain’s, the 261-room Hotel Palomar at 505 N. State Street is now being listed on the open market at a time when hotel values in the Windy City seem to be at all-time highs.
Although a price has not yet been disclosed, the likely value of Hotel Palomar has almost certainly gone up since it first opened up back in 2010, likely netting its owners a fairly substantial profit.
One of four hotels run by Kimpton Hotels & Restaurants, the boutique Hotel Palomar occupies the lower floors of the 36-story tower at 505 N. State, which of course is a prime location in one of the city’s hottest and trendiest
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