The Dow Hotel has purchased for an undisclosed price the 248-suite Chicago
Marriott Suites Deerfield in a joint venture with AEW Partners, a real
estate fund managed by AEW Capital Management, L.P.DHC also will
operate the hotel under a long-term management agreement. It is the third
hotel acquired by DHC in the past six months.
Located at 2 Parkway North, in the Chicago North Shore suburb of
Deerfield, the hotel will undergo a several million dollar renovation and
upgrade program to bring the hotel into top physical condition. Providing 248
two-room suites, each featuring a wet bar, refrigerator, microwave, and
luxurious bath, the hotel is located in the heart of the Parkway North Center
office park. The property is convenient to Six Flags Great America Theme
Park, Six Flags Hurricane Harbor Waterpark, The Ravinia Music Festival,
Chicago O’Hare International Airport, and Downtown Chicago.
“This is our second investment with AEW, and the second hotel we own and
manage in the Greater Chicago area. We believe in the long-term growth
potential this market holds, and we look forward to partnering again with AEW
in the future,” said Murray L. Dow II, DHC founder and president.