Parag Patel Acquires Hilton Garden Inn In Evanston From Robert Indeglia For $18M

The transaction involved the sale of a hotel asset located at 1818 Maple Avenue in Evanston. The sale price was $18,000,000. The property is characterized as a hotel and was previously owned by Magna Hospitality Group.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $18,000,000
• Buyer: Parag Patel
• Seller: Robert Indeglia - Magna Hospitality Group
• Market: Evanston

Parag Patel's venture acquired the Hilton Garden Inn in Evanston from Robert Indeglia's Magna Hospitality Group. This acquisition contributes to Patel's expanding portfolio of hotel properties in the Chicago area, aligning with his strategic outlook on a rebound in the hospitality sector, particularly in light of Northwestern's $800M stadium project aimed at increasing local demand.