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Sterling Bay and Conlon, which JV'd to buy the Talbott Hotel for $51M in August, landed two notable names for their investment team. Actor John Cusack and hockey Hall of Famer Chris Chelios are among the investors in the deal, which closed last week.
Chelios, the former Blackhawk whose name is engraved three times on the Stanley Cup, and Cusack join Bill Rancic and John Pritzker, who put skin in the Sterling Bay-Conlon JV. The 16-story, 149-room hotel at 20 E Delaware Pl was owned by the Kromelow family for 50 years.
Pritzker, who is investing $1B in hotel deals with Wangxiang Group, will have an active role in the Talbott's repositioning. Sterling Bay is best known for redeveloping vintage office buildings but has put some skin in the hotel market. It's building a 160-room Ace Hotel near 1K Fulton.
See Also: Joe Scoby Saved UBS. Now He's Buying Chicago Real Estate
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