Jones Lang LaSalle's Hotels & Hospitality Group recently arranged the sale of the 248-room Marriott Suites Chicago Deerfield on behalf of AEW Capital Management, L.P and The Dow Hotel Company. Located within the 85-acre Parkway North Business Center office park in Deerfield, Illinois, the all-suites property is a premier full-service hotel in one of Chicago's strongest corporate suburban markets.
The sale of the Marriott Suites Deerfield represents the team's second high profile transaction in the Chicago suburbs in the last two months. The Chicago lodging market has experienced significant growth recently, evidenced by its RevPAR improvement in 2012 of 8.7 percent, ranking among the top 10 of the major 25 markets within the United States in terms of RevPAR growth.
Adam McGaughy, Managing Director, and John Nugent, Senior Vice President, led the Chicago-based team on this transaction.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.
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