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Walton Street Puts Hotel Lincoln on the Market

Chicago Hotel

Another Chicago hotel is for sale, a further sign of the strong market for them. Walton Street Capital is putting the Hotel Lincoln for sale, nearly two years after it bought a majority stake in the 184-room hotel at 1816 N Clark St. Walton Street and partner AJ Capital Partners reversed the hotel’s fortunes in part by adding a retractable roof to its rooftop bar, J. Parker, allowing it to be open year-round, and Walton Street’s Stephen Sotoloff told Crain’s it’s time to pursue a sale now that cash flow is up. Walton Street hired Eastdil Secured to entertain buyers. The Hotel Lincoln could fetch more than $70M. [Crain’s]