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Sofitel Chicago Magnificent Mile 20 E Chestnut St 415 Room Hotel Chicago, IL 60611 For Sale
Investment Highlights
- Iconic 32-story prism-shaped tower designed by Jean-Paul Viguier
- Prime Gold Coast location near Magnificent Mile, Oak Street, and Rush Street dining.
- Recent $12.8 million guestroom renovation and $20 million in capital improvements since 2014.
- 415 guestrooms, including 61 suites, with oversized windows and luxury finishes.
- Approximately 13,000 square feet of event space, including a 4,600-square-foot Grand Ballroom.
- Offered fee-simple with management flexibility and Sofitel brand affiliation through 2041.
Executive Summary
Sofitel Chicago Magnificent Mile presents a rare opportunity to acquire a premier luxury hotel in the heart of Chicago’s prestigious Gold Coast neighborhood. This 415-key property, including 61 suites, is housed in an iconic 32-story prism-shaped tower designed by renowned French architect Jean-Paul Viguier. The hotel underwent a $12.8 million guestroom renovation in 2018 and has seen over $20 million in capital improvements since 2014, ensuring exceptional physical condition and long-term value.
The property benefits from its prime location just two blocks west of the Magnificent Mile and one block south of Oak Street’s luxury retail corridor, offering unparalleled access to Chicago’s top dining, shopping, and cultural attractions. With approximately 13,000 square feet of event space, including a 4,600-square-foot Grand Ballroom, and multiple French-inspired dining venues, the hotel is well-positioned to capture both leisure and corporate demand.
Offered fee-simple and unencumbered by management, the asset provides operational flexibility and strong brand affiliation under Sofitel by Accor, with a franchise agreement in place through December 31, 2041. This investment combines irreplaceable real estate with significant upside potential in one of the nation’s highest ADR-performing markets.
The property benefits from its prime location just two blocks west of the Magnificent Mile and one block south of Oak Street’s luxury retail corridor, offering unparalleled access to Chicago’s top dining, shopping, and cultural attractions. With approximately 13,000 square feet of event space, including a 4,600-square-foot Grand Ballroom, and multiple French-inspired dining venues, the hotel is well-positioned to capture both leisure and corporate demand.
Offered fee-simple and unencumbered by management, the asset provides operational flexibility and strong brand affiliation under Sofitel by Accor, with a franchise agreement in place through December 31, 2041. This investment combines irreplaceable real estate with significant upside potential in one of the nation’s highest ADR-performing markets.
Property Facts
| Sale Type | Investment | No. Rooms | 415 |
| Property Type | Hospitality | No. Stories | 32 |
| Property Subtype | Hotel | Year Built/Renovated | 2002/2018 |
| Building Class | A | Parking Ratio | 0.09/1,000 SF |
| Lot Size | 0.57 AC | Corridor | Interior |
| Building Size | 371,771 SF | ||
| Zoning | DX-12 | ||
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | A |
| Lot Size | 0.57 AC |
| Building Size | 371,771 SF |
| No. Rooms | 415 |
| No. Stories | 32 |
| Year Built/Renovated | 2002/2018 |
| Parking Ratio | 0.09/1,000 SF |
| Corridor | Interior |
| Zoning | DX-12 |
Amenities
- Business Center
- Fitness Center
- Restaurant
- Room Service
- Spa
- On-Site Retail
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 61 | $583.00 | - |
| Guest Room | 354 | $434.00 | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $26,532,199 | |
| Land Assessment | $1,852,080 | Total Assessment | $28,384,279 |
Property Taxes
Parcel Numbers
Land Assessment
$1,852,080
Improvements Assessment
$26,532,199
Total Assessment
$28,384,279
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Sofitel Chicago Magnificent Mile | 20 E Chestnut St
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