The fourth hotel venture on a single square block in the Loop has been exposed by the Sun-Times. Rhode Island-based Magna Hospitality Group bought the sliver of a parcel on Wacker Place last year for $5M, wedged between the Church of Christian Scientists and the Chicago Motor Club Building— also the target of hoteliers. The Sun-Times learned of the fledgling plan from minor piece of zoning paperwork filed with the city. The disclosure has Magna weighing the possibility of building a 27-story Hilton Garden Inn on the 4,800-square-foot site, to which company officials had no comment. An unnamed Sun-Times insider source confirmed Magna's intentions. Should the development set sail, it would join the Motor Club, London Guarantee, and Old Dearborn Bank buildings (not to mention existing hotels) in forging a trendy and somewhat-less-expensive downtown hotel district.
·Plan would shoehorn hotel onto Wacker Place [Sun-Times]
·Chicago Motor Club Building Will Indeed Morph Into Hotel [Curbed Chicago]