CHICAGO, Ill. – In its first real estate development project in Chicago, Illinois, Mortenson has teamed up with lead developer Akara Partners to design and build a $67-million extended stay hotel in River North. The hotel is being designed by Norr Architects under a Design-Build arrangement with Mortenson for the 17-story, 206-room Home2 Suites by Hilton.
Mortenson and Akara Partners are breaking ground on Oct. 5 for the hotel, located at 110 W. Huron. The site, at the corner of Clark and Huron streets, is a parking lot owned by Akara. The 120,000-square-foot building is scheduled to open in the first quarter of 2019 and will include 5,000 square feet of ground floor retail space.
Mortenson has developed more than $600 million of hotel projects across the United States in the past five years. It also has extensive hotel building experience with completing more than 100 new construction and renovation projects, including modernizing the Cambria Hotel on East Superior Street and the Hilton Chicago on South Michigan Avenue.
Rendering courtesy of Norr Architects.
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