GOLD COAST — Hotel Indigo will be getting a makeover next year, said its new owner, Interwest Capital.
The California-based commercial real estate firm, which announced its acquisition of Hotel Indigo, 1244 N. Dearborn Pkwy., on September 12, will begin an estimated $6 million renovation in the first quarter of 2017.
Interwest has enlisted Gettys Group, the Chicago-based hospitality design firm, to head up the design, according to Chris Meredith, director of acquisitions.
Hotel Indigo, formerly known as the Claridge Hotel, was built in 1923 and given its current name in 2005. The 12-story, 165 key property hasn’t been renovated since 2005, which means an upgrade is overdue given that hotels are typically renovated every four to six years, Meredith said.
The updates will include a new furnishings, wallpaper, an enhanced bar, full room and bathroom renovations, new paint, and new floorings, as well as updating the lobby, meeting rooms and other public spaces Meredith said.
Gettys Group was chosen to give the hotel a more timeless look that’s more up-to-date, rather than implementing a trendy look that will go out of style within 18 months, he added. The design firm has worked on other prominent hotels including the Renaissance Hotel in Chicago and the Peninsula Hong Kong.
“We’re really going to bring it up to date to compete with the latest hotels,” he said. “[Gettys is] a fantastic interior design group, and we’re fortunate to have them right in our backyard in Chicago.”
Interwest Capital will retain Hersha Hospitality Management to oversee Hotel Indigo’s operations. Given that the Gold Coast real estate market is tightly held, the property offers a prime location for businesses and nightlife while having the quiet, neighborhood feel, he said.
“The neighborhood played a very big role in our decision,” Meredith said. “It’s got that quiet, residential feel that they can come back and have a good night’s sleep.”
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