Hotel Indigo®, IHG’s (InterContinental Hotels Group) upscale boutique brand, is continuing its expansion in major U.S. cities with plans for its third hotel in the Chicago market. The hotel, which will be located in the historic downtown area’s Atlantic Bank Building, is expected to open in spring 2014.

The Hotel Indigo Chicago-Millennium Park hotel, located at 168 N. Michigan Ave., will undergo an estimated $20 million renovation by the ownership and will occupy a 101-year-old building that first opened in 1912 as the Federal Life Building. The 156-room hotel will feature design elements that reflect its local neighborhood just north of Millennium Park within Chicago’s central business district.

As part of the extensive renovations, the hotel will add four floors to the building—bringing the total to 16 stories – housing a rooftop bar, and a restaurant managed by celebrity chef David Burke. The hotel will maintain many of its historic features, including the original white enamel terra cotta exterior, while including the benefits and amenities guests expect from staying with a brand from one of the world’s largest global hotel companies.

“The Hotel Indigo brand is uniquely designed to reflect the culture, character and history of the neighborhoods where our hotels are located,” said Mary Winslow, director, Brand Management, Hotel Indigo, the Americas, IHG. “This hotel will occupy a local landmark on famed Michigan Avenue, one of the most storied neighborhoods in Chicago. The growth of the Hotel Indigo brand in top-tier markets like Chicago, New York and New Orleans proves that guests value the boutique, local neighborhood experience that our hotels provide.”

Set in the heart of Chicago’s vibrant business district, and within walking distance to many of Chicago’s best restaurants, shopping and theater districts, the Hotel Indigo Chicago-Millennium Park hotel will be conveniently located just steps from the Jay Pritzker Pavilion and Millennium Park. The hotel will also be in close proximity to the Magnificent Mile, Grant Park, the Art Institute of Chicago and numerous corporate offices. Within a mile of Interstates 90, 94 and 290, as well as U.S. Highway 41, the Hotel Indigo Chicago-Millennium Park hotel will be served by several bus and train stops and will be close to the Chicago Cultural Center, one of the city’s most popular sites for fundraisers, concerts and other special events.

“We are excited to be involved with bringing the Hotel Indigo brand to downtown Chicago,” said Musa P. Tadros, president, Crown Series 168 North Michigan Avenue LLC, a Frankfort, Ill. based company. “Chicago is a thriving business and travel destination that offers unique local flavors not found anywhere else in the U.S. We look forward to welcoming both business and leisure guests and sharing our neighborhood story with them.”

The Hotel Indigo brand, the world’s first global branded boutique hotel brand, has grown rapidly since launching in 2004. The Hotel Indigo brand continues to be a strong growth vehicle for IHG with its strategy focused on growing in top-tier priority markets and gateway cities. With a quality global pipeline of nearly 50 hotels, the Hotel Indigo estate is expected to double in size to 100 properties within the next three to five years.

The Hotel Indigo Chicago-Millennium Park hotel is one of several Hotel Indigo properties expected to open in key cities throughout the U.S. in the next few years, including New York City, Philadelphia, Newark, N.J., Savannah, Ga. and Pittsburgh. The brand has recently seen growth in top U.S. markets with the 2012 openings of the Hotel Indigo Brooklyn and Hotel Indigo New Orleans Garden District hotels. The Hotel Indigo brand has also seen strong international growth, with the recent opening of the Hotel Indigo Barcelona - Plaza Catalunya hotel, and the upcoming opening of the Hotel Indigo Hong Kong Island hotel, anticipated to open by mid-year.

The Hotel Indigo Chicago-Millennium Park hotel, owned by Crown Series 168 North Michigan LLC and managed by First Hospitality Group, is franchised by an affiliate of IHG.