Frontier Development, Sun Development, And 3H Group Acquire Hotel In Downers Grove, IL For $14.5M

The hotel located at 1500 Opus Place in Downers Grove, IL was recently sold in a transaction. The property, which is classified as a hotel, was purchased by Frontier Development & Hospitality Group, Sun Development & Management Corp., and 3H Group. The buyers were represented by Evens Charles, Bharat Patel, and Hiren Desai respectively. The seller of the hotel was Host Hotels & Resorts, with James Risoleo representing them.

Summary of Transaction Details

• Property Type: Hotel
• Sale Price: $14,500,000
• Address: 1500 Opus Place, Downers Grove, IL
• Market: Downers Grove, IL
• Buyer: Frontier Development & Hospitality Group - Evens Charles, Sun Development & Management Corp. - Bharat Patel, 3H Group - Hiren Desai
• Seller: Host Hotels & Resorts - James Risoleo

The transaction involved a total of 254 keys and the price per key was $57,087.