Chicago’s historic Essex Hotel was recently acquired by Oxford Capital Group, LLC and Quadrum Global. This marks the 11th hotel investment in the Chicago area by Oxford and the second by Quadrum. Within the next year they plan to re-position Essex Hotel as an upscale lifestyle hotel.
"We are strong believers in Chicago and the continued attractiveness of Michigan Avenue real estate. We are also excited about the renewed and growing momentum of the burgeoning South Loop. We look forward to transforming this already distinctive asset," says John W. Rutledge, founder, president and CEO of Oxford Capital Group, LLC, the Chicago-based owner, developer, sponsor and manager. Essex Hotel Manager, LLC, owned by Oxford Capital, has taken over management.
"This is yet another joint project with Oxford Capital. Capitalizing on our partners' impressive track record in urban hospitality, we look forward to breathing a new life into Essex Inn and making it one of the new destinations in the city," said Quadrum's founder and CEO Oleg Pavlov.
Currently, the hotel features 254 guest rooms, an all-season rooftop pool, a fitness center, sauna, garden deck, restaurant with bar, and multiple meeting rooms and boardrooms.