Owner and developer Rockbridge acquired the 200-room Hyatt House Chicago West Loop/Fulton Market, located near Chicago’s downtown West Loop and Fulton Market. Other terms and details were not disclosed but developer Sterling Bay opened the hotel in 2019 and was likely still the owner after trying to sell the property in 2021.
In addition to McDonald’s global headquarters located a block away, there are multiple corporate offices in the area including Aspen Dental, Google, Kimberly Clark and Chicago’s United Center home to the NBA Bulls and NHL Blackhawks, and others.
“This Hyatt House hotel is ideally located in Chicago’s Fulton Market—one of the best submarkets in the city,” Rockbridge Managing Director Matt Welch said in a statement. “The hotel was built just prior to Covid and has strong tailwinds to continue to grow. It will also benefit by leveraging the strengthening of Fulton Market and the Hyatt House brand.”
Jones Lang LaSalle Hotels & Hospitality Group advised sellers on the transaction.
Built in 2019, the 14-story hotel is the only select-service and major brand hotel in the area, according to Rockbridge. The hotel amenities include flexible meeting space, a rooftop activity center, an indoor pool, a fitness center, a marketplace for grab-and-go snacks and groceries, and a bar for light bites and cocktails.