99-year-old Loop building sold to Langham, LondonHouse developer
Loop North News

HOTELS & RESTAURANTS 168 N Michigan Ave - MAP

LoopNet 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). John Rutledge

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.

Photo by Steven Dahlman (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). Riley Huddleston

“This format is atypical of most hotels and our concept will stay true to the history and character surrounding the hotel and location, while adding in little touches that set it apart and enhance the guest’s experience.”

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.”

 Previous story: London Guarantee to open as ‘LondonHouse’ in spring 2016

By Steven Dahlman | Loop North News | sdahlman@loopnorth.com

Published 13-Dec-15 5:41 AM

Loop North News

FREE WEEKLY EMAIL UPDATE

What’s news in the Loop and Near North neighborhoods of downtown Chicago.

Signup for our weekly email. No ads and no charge. Just enter your email address here...

Number of subscribers:
See this week’s update

More stories


Today
The Mag Mile Grows Up, a walking tour hosted by urbanologist Max Grinnell. A century ago, Michigan Avenue and nearby Streeterville were rather sleepy places. With the completion of the Michigan Avenue (now DuSable Bridge), elaborate plans emerged. Some plans were realized, including marquee skyscrapers such as Wrigley Building and Tribune Tower. This tour will take visitors around this stretch of the Magnificent Mile and beyond to talk about a few of those plans. 4:00 p.m. Meet outside Wrigley Building, 400 North Michigan Avenue. Rain or shine. Map. More info.

April 22
Be a part of the inaugural Original Earth Day River Cruise. This fun and interactive lunchtime tour will navigate through the heart of the city on all three branches of the Chicago River and will include hands-on water quality sampling, litter clean up, spotting wildlife sights and sounds, and celebrating new ecosystems. 11:30 a.m. to 1:00 p.m. Boarding begins at 11:00 a.m. Wendella dock, 400 North Michigan Avenue. Tickets: $40. $20 for students and nonprofit partners. Includes a light lunch. Beverages available for purchase. All ticket revenue will go to Friends to support habitat restoration, water quality protections, and public outreach. Map. More info.
More events

Biggest Gainers & Losers

BOEING CO.
377.52 4.20

UNITED CONTINENTAL HOLDINGS INC.
89.24 4.07

NORTHERN TRUST CORP.
92.42 3.20

CME GROUP INC.
176.92 3.00

Downtown Chicago Stocks