The new owner “intends to remodel and rehabilitate an existing ten-story 60,000+/- SF (square foot) building resulting in the activation of 100 +/- hotel rooms with lobby/registration area, retail space, fitness center, meeting room and a full-service restaurant and bar (the ‘project’) to be located within the school district,” according to school district documents.
Exemption from school real estate taxes is scheduled for review by board members Tuesday and possible approval next week.
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The owner of the property is First Barclay LLC, whose street address corresponds with First Hospitality, which is based in Rosemont Ill. As of April, the company’s property portfolio included more than 40 hotels offering more than 6,700 rooms, representing 14 brands.
A message seeking comment was sent to a representative of First Hospitality Monday.
