Crown Plaza Recapitalized With a 36.3 Million Dollar Loan

Photo from CoStar

Rising market solves loan woes at West Loop hotel
By: Alby Gallun | April 10, 2013

Another downtown hotel has dodged the foreclosure bullet. The owner of the 398-room Crowne Plaza Metro Chicago in the West Loop paid off an overdue $48-million mortgage, recapitalizing the property with a new $36.3-million loan from American General Life Insurance Co. and a new equity investment.  Read More...