Crain's is confirming the sale of the London Guarantee (Crain) Building to local hotel developer Oxford Capital Group. The office building, renovated in the 1990s, was expected to fetch at least $50M. Oxford, the company behind The Langham Chicago across the river in Mies' IBM Building, will move forward with a new "lifestyle hotel" for the 90-year-old, 21-story Beaux Arts tower. The adjacent empty lot (77 E Wacker) is also implicated in plans for two floors of retail. [Crain's, previously]
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