13-Dec-15 – A real estate company behind 12 Chicago hotels, including four in River North, will turn a 99-year-old building on North Michigan Avenue into a 200-room hotel. (Left) Atlantic Bank Building on Michigan Avenue, north of Crain Communication Building. (Click on image to view larger version.)

Oxford Capital Group bought the 12-story Atlantic Bank Building, a neoclassicism structure completed in 1916. The amount paid was not disclosed but the building sold for $7.25 million in 2012, $13 million in 2008, and $9 million in 2006.

The previous owner, Crown Commercial Real Estate & Development Inc., planned to turn the long-vacant building into a 156-room hotel but the project stalled and seven floors are currently gutted.

The sale was announced on December 9. It is a joint venture between Oxford and Quadrum Global. They are planning a 200-room “independent lifestyle” hotel.

“We continue to believe in the attractiveness and irreplaceability of prime Michigan Avenue real estate and the growing momentum of the areas adjacent to Millennium Park and Grant Park,” said Oxford CEO John Rutledge (right).

Based in Chicago, Oxford owns hotels across the nation. Its River North properties include Hotel Felix, The Godfrey Hotel, The Langham, and a Holiday Inn Express formerly known as Hotel Cass.

Its LondonHouse will open next spring on Wacker Drive and include a new 22-story building, “LondonHouse Tower,” squeezed between the former London Guarantee Building and Mather Tower.

(Left) Glass curtain wall is installed and work continues inside LondonHouse, the lower floors of which are seen here from across Wacker Drive on December 3.

Godfrey exec chef moves south to LondonHouse

Oxford also announced it has hired an executive chef for LondonHouse. Riley Huddleston will oversee the hotel’s culinary and beverage operations.

“The goal is to intertwine the hotel services with all its different amenities and dining outlets,” said Huddleston (right).

Huddleston is from Oregon. He was most recently executive chef for I|O, the rooftop lounge at Oxford’s Godfrey Hotel. He is also co-owner of a fast food restaurant that specializes in French fries. Boise Fry Company was noted by Travel+Leisure magazine for “Best Fries.”