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The Top 10 Hotel Sales in Chicago in 2015 (so far)

Chicago hotel sales this year haven't commanded the monster numbers of office buildings and multifamily developments, but it's still a competitive and strong market for investors. Here are the top 10 sales of the year to date.

1. Loews Chicago Hotel for $156M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 455 N Park Dr

Price: $156M

Rooms: 400

Sold: February

Price per room: $391k

In a year marked by hotels built in restored buildings, this stands out for being a ground-up development. Loews paid DRW Trading $156M to build what it says is the company’s new standard in Chicago.

2. Waldorf Astoria Chicago for $112M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 11 E Walton

Price: $112M

Rooms: 188

Sold: June

Price per room: $595k

Sam Zell saw a huge return on this investment when he sold it to Laurence Geller. Zell paid $95M for the former Elysian Hotel in 2011. The price per room is a record for a Chicago hotel.

3. Marriott Chicago O'Hare for $72M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 8535 W Higgins

Price: $72M

Rooms: 681

Sold: June

Price per room: $106k

Columbia Sussex bought this hotel from Host Hotels & Resorts as part of a two-property deal that included a New Jersey Marriott. Host owned the Marriott Chicago O’Hare since 1997, when it was acquired as part of a six-hotel, $240M deal.

4. Holiday Inn & Suites Chicago O’Hare Rosemont for $35M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 10233 W Higgins, Des Plaines

Price: $35M

Rooms: 299

Sold: March

Price per room: $117k

Hospitality Properties made a splash in the hot airport hotel market when it bought this property from Rockbridge Capital.

5. Westin Chicago Northwest for $27M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 400 Park Blvd, Itasca

Price: $27M

Rooms: 408

Sold: March

Price per room: $66k

The suburban hotel market is lucrative, as GF Hotels proved when it bought this hotel from Blackstone Group.

6. Homewood Suites Chicago for $22M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 40 E Grand Ave

Price: $22M

Rooms: 233

Sold: February

Price per room: $93k

ARC Hospitality Trust is finding value in economy hotels. Example: buying this hotel from Whitehall Real Estate.

7. Courtyard Chicago Schaumburg for $18M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 1311 American Lane, Schaumburg

Price: $18M

Rooms: 162

Sold: February

Price per room: $111k

PIMCO likes what it sees in Schaumburg's hotel market and its location near O'Hare. This budget hotel is the most expensive of three properties the group bought from RLJ Lodging Trust in February. All three were part of a $300M deal for 13 hotels across the country.

8. Residence Inn Chicago Schaumburg for $17M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 1610 McConnor Pkwy, Schaumburg

Price: $17M

Rooms: 125

Sold: February

Price per room: $140k

The second hotel in PIMCO's shopping spree from RLJ Lodging Trust also has the highest price per room average of any suburban hotel on this list.

9. Springhill Suites Chicago Schaumburg for $15M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 1550 McConnor Pkwy, Schaumburg

Price: $15M

Rooms: 132

Sold: February

Price per room: $115k

The third hotel in PIMCO's buys from RLJ Lodging Trust is spitting distance from the Residence Inn that was $2M more. Schaumburg's hotel occupancy rate through May was 63.2% and RevPAR was $101.45.

10. Hyatt Lisle for $13M

The Top 10 Hotel Sales in Chicago in 2015 (so far)

Location: 1400 Corporetum Dr, Lisle

Price: $13M

Rooms: 316

Sold: June

Price per room: $41k

Rounding out the list is this hotel bought by Vinayaka Hospitality from a JV of Ares Management and Aimbridge Hospitality, which spent $7M renovating the rooms and lobby before the sale.