Hyatt House Oak Brook
Oak Brook, IL | 144 Rooms | Investment, Development
Janko Group identified that a one-story, 50% leased, tired office building at a corner, traffic-controlled intersection on 22nd Street would be an ideal location for development of a Hyatt House extended-stay hotel. We negotiated a contract to purchase the site, requiring the sellers to relocate existing tenants before closing. The site was approved for 144-room Hyatt House and an adjacent stand-alone restaurant pad that will serve as an amenity to the hotel and the surrounding area.
The site was purchased in June 2016, and the following month, we broke ground on development of the 144-room Hyatt House. Oak Brook, an affluent western suburb of Chicago, is ideally situated with easy access to major roadways and located near excellent corporate and leisure demand generators. Opening is expected in Fall 2017 and will be the first hotel in the competitive set to open in 15 years.