The Drake Hotel - Chicago, IL_Property for Sale
The Drake Hotel - Chicago, IL_Property for Sale
140 E Walton Pl, Chicago, IL, 60611-1545, US

The Drake Hotel - Chicago, IL

Asset description

JLL’s Hotels & Hospitality and Capital Markets Groups, as sole and exclusive agent, are pleased to offer for sale the fee simple ownership interest in the landmark 535-room Drake Hotel (the “Drake”, “Hotel”, or “Property”). The Property is owned by four separate entities subject to a tenant in common (TIC) ownership agreement. JLL represents the two majority TIC members which, combined, own 90 percent interest in the Property; the remaining 10 percent interest is being concurrently marketed by another advisor. The acquisition of the majority or all of the TIC interests will provide new ownership with an unencumbered interest in this phenomenal opportunity and represents the first time in more than a century that the fee simple interest in the building and land have been offered for sale.



Number of units
535 units
Building area Net
539,560 sf
Year built


Investment highlights

  • Historic 535 room hotel
  • Renaissance era Italian design
  • Desirable ground floor retail space, upgraded amenities, and potential addition of premier residential units
The Drake Hotel - Chicago, IL 4_Property for Sale
The Drake Hotel - Chicago, IL 4_Property for Sale

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The Drake Hotel - Chicago, IL (0 Properties)

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Last updated
Nov 30, 2022