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Commission on Chicago Landmarks

Boutique hotel for historic Michigan Avenue building moves forward

The Commission on Chicago Landmarks on Thursday approved a tax break to transform the former Chicago Athletic Association building across from Millennium Park into a boutique hotel.

The Cook County property tax incentive means that developer CAA Hotel Owner LLC can move full speed ahead with a 240-room hotel they say will open by July of 2014. Behind this developer is Chicago-based investment firm AJ Capital Partners LLC and John Pritzker, the son of Hyatt Hotel founder Jay Pritzker. The team bought the property last July for $13 million.

Landmarks officials to consider hotel plan for Chicago Athletic Association