CHICAGO — JLL’s Hotels & Hospitality Group has announced the sale of the 189-room Waldorf Astoria Chicago to hotelier Laurence Geller.

The transaction totalled $113 million, or more than $600,000 per room — the highest per-room price ever paid for a Chicago hotel.

The AAA-Five-Diamond hotel, located in Chicago’s Gold Coast neighbourhood, features 5,000 square feet of flexible meeting space, a 14,000-square-foot spa and health club and two food and beverage options.

Managing directors Robert Webster and Adam McGaughy, and EVP Tim Southard led the JLL team on the sales transaction, while EVP Bill Grice and SVP Matt Nowaczyk led the financing effort.


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