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Zell Sells Waldorf Astoria Chicago for $113M


Sam Zell is pocketing a profit after news broke he was selling the Waldorf Astoria Chicago hotel for a record $113M. Zell bought the former Elysian Hotel in 2011 for a then-record $95M, renamed it the Waldorf Astoria and brought it under the Hilton corporate umbrella. New owner and former Strategic Hotels CEO hotelier Laurence Geller is paying an average of $601k per room for the 188-key hotel at 11 E Walton St, reports Crain’s. [Crain's]