Lowe Enterprises buys, rebrands Affinia in Chicago

Lowe Enterprises Investors, on behalf of an investment client, has acquired the 28-story, 213-room Affinia Chicago Hotel located in Chicago from Denihan Hospitality Group. Concurrent with the sale, Lowe Enterprises affiliate Destination Hotels & Resorts will take over the hotel management and implement the property’s rebranding as MileNorth, a Chicago Hotel, a name inspired by its location one block from the Magnificent Mile area of North Michigan Avenue.

“MileNorth presents the opportunity to invest in a well-located hotel in the heart of downtown Chicago in a steadily improving hotel market. The property is steps from one of the nation’s most prominent shopping districts, the Magnificent Mile, and surrounded by a host of dining and entertainment options,” said Bleecker Seaman, co-CEO of Lowe Enterprises. “MileNorth has recently been completely renovated allowing us to focus our resources on enhancing the property’s value by repositioning it as an independent boutique hotel.”

MileNorth is comprised of 213 guestrooms, 69 of which are suites, approximately 3,000 square feet of meeting space, a ground floor restaurant and popular rooftop bar offering expansive city views. The previous owner completed a top-to-bottom renovation upgrading all guest rooms including furniture and fixtures, the corridors, common areas and building systems and transforming several floors of office space into guestrooms.

“Our team has focused extensively on the Downtown Chicago submarket, an area that we expect will grow significantly in the coming years,” said Mike Everett, senior vice president of acquisitions for Lowe Hospitality Group.