A new hotel may soon be coming to Chicago, and in a location you might not expect.
According to Crain’s, Chicago-based real estate firm Hearn is currently in negotiations with Marriott International to develop a luxury hotel in the former John Hancock Center.
If the deal is finalized, it would signify a new chapter for one of the Magnificent Mile’s landmarks. The project would convert approximately 400,000 square feet, which was previously designated for medical tenants, into a 350-key, Edition-branded luxury boutique hotel at 875 North Michigan Avenue.
Marriott is in advanced talks to open a 350-room Edition hotel
Crain’s reported that Hearn has owned the office portion of the building since 2013 but has struggled to decrease its vacancy rates due to the shift toward remote work following the pandemic.
Some of the available space was rebranded as the “Mag Mile Medical Pavilion” in 2022, specifically targeting hospitals and physician practices for administrative and outpatient office use. Despite this effort, about half of the 900,000 square feet of office space in the skyscraper still remains unoccupied.
The hotel rooms would be located on floors 23 through 34 of the 100-story tower, according to the report.