New owner for Embassy Suites Chicago-North Shore/Deerfield

Lowe Enterprises Investors (LEI) has acquired the Embassy Suites Chicago-North Shore/Deerfield on behalf of a pension fund client. The 237-suite hotel is located 30 miles from downtown Chicago and 13 miles from O'Hare International Airport. "The [hotel] has a solid performance record and is positioned to benefit from the continuing recovery of the hospitality market," said Bleecker Seaman, CEO of LEI. A $6 million renovation completed in 2007 included upgrades to the guest rooms and common areas. LEI will implement a $4 million capital improvement program designed to increase the hotel's value. The acquisition price of the hotel was not divulged.

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