Essex Hotel Owner, an Oxford Capital Group-led venture with Quadrum Global, has acquired Chicago’s historic Essex Inn-Michigan Avenue. In the coming year, the venture will unveil plans to invest in and transform the downtown property, repositioning the Essex Inn as an upscale lifestyle hotel. Terms of the sale were not disclosed.
This will be Oxford’s 11th hotel investment in Chicago and Quadrum’s second investment with Oxford in Chicago, the first being the Godfrey Chicago.
“We are excited about the renewed and growing momentum of the burgeoning South Loop,” said John Rutledge, founder, president and CEO of Chicago-based Oxford Capital Group. Essex Hotel Manager, owned by Oxford Capital, has taken over management.
The hotel currently features 254 guestrooms including 23 suites, an all-season rooftop pool, fitness center, dry sauna, garden deck, meeting rooms and boardrooms, a parking garage as well as a full-service restaurant with bar on the ground floor.