Chicago Tribune: Historic Jewelers Building sold for more than $7 million, will be redeveloped as hotel


A 39-room boutique hotel is planned for the historic Jewelers Building in the Loop after the 136-year-old building sold this month for $7.2 million.

A joint venture of Peerless Development and Honoree Properties bought the 40,000-square-foot building at 19 S. Wabash Ave., which is a city landmark and listed on the National Register of Historic Places.

A yet-to-be-identified hotel chain based in San Francisco has signed a 10-year lease for 24,000 square feet in the building, with plans for rooms featuring kitchenettes, according to information provided by Daniel Knorps, principal of KM Real Estate Capital, who brokered the deal.

Daniel KnorpsComment