Sunstone Hotel Investors, Inc. Sells Chicago Hotel For $129.5M
600 North State Street, Chicago, Illinois 60654, United States
$129,500,000
Building Size
—
Asset Type
Hotel
Closing
Mar 17, 2022
AI
The property involved in this closed transaction is a hotel located at 600 N. State St & 10 E. Grand Avenue in Chicago. The sale of this hotel was completed on March 18, 2022. The seller of the property is Sunstone Hotel Investors, Inc.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $129,500,000
- Address: 600 N. State St & 10 E. Grand Avenue, Chicago
- Market: Chicago
The hotel comprises 729 keys. The price per key comes out to be $177,641.
Bryan Giglia represented Sunstone Hotel Investors, Inc. in this transaction.
Chicago Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93