{"id":1004106926,"date":"2014-11-05T11:14:08","date_gmt":"2014-11-05T19:14:08","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=304569"},"modified":"2020-04-29T23:01:34","modified_gmt":"2020-04-30T07:01:34","slug":"oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\/","title":{"rendered":"Oxford Capital, Quadrum Global JV Acquires Chicago\u2019s Historic Essex Inn on Michigan Avenue"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_304570\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Essex-Inn-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-304570\" title=\"Essex Inn Chicago\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Essex-Inn-1.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Essex Inn Chicago<\/p>\n<\/div>\n<p>A joint venture between Quadrum Global and Chicago-based Oxford Capital Group LLC recently announced the acquisition of the historic Essex Inn at 800 S. Michigan Ave. in Chicago\u2019s Historic Michigan Boulevard District. Oxford Capital Group &#8211; owner, developer, sponsor and manager of the Essex Inn &#8211; plans to transform the iconic building into an upscale lifestyle hotel in the coming year.<\/p>\n<p>\u201cWe are strong believers in Chicago and the continued attractiveness of Michigan Avenue real estate,\u201d says John W. Rutledge, president and CEO of Oxford Capital. \u201cWe are also excited about the renewed and growing momentum of the burgeoning South Loop. We look forward to transforming this already distinctive asset.\u2019\u2019<\/p>\n<p>Located in the Historic Michigan Boulevard District in Chicago\u2019s Loop neighborhood, the Essex Inn is in close proximity to Grant Park, the Field Museum, Shedd Aquarium, Millennium Park, The Art Institute of Chicago, and the popular Magnificent Mile. The 53-year-old building was designated a Chicago Landmark in February 2002, and is one of many iconic landmarks located in the district, including the Blackstone Hotel, the McCormick Building, and the Fine Arts Building. According to <em><a href=\"https:\/\/www.propertyshark.com\/mason\/il_cook\/Reports2\/showsection.html?propkey=78868009\" target=\"_blank\" rel=\"nofollow\">Property Shark.com<\/a><\/em>, the building, constructed in 1962, is valued at $7,249,640.<\/p>\n<p>The historic Essex Inn currently features 254 guest rooms and amenities such as an all-season rooftop pool with a view of Grant Park, fitness center, dry sauna, garden deck, parking garage, free wireless internet, and a full service restaurant and bar on the ground floor.<\/p>\n<p>\u201cThis is yet another joint project with Oxford Capital,\u2019\u2019 say Quadrum founder and CEO, Oleg Pavlov. \u201cCapitalizing our partners\u2019 impressive track record in urban hospitality, we look forward to breathing a new life into Essex Inn and making it one of the new destinations in the city.\u201d<\/p>\n<p>The acquisition of the hotel represents Oxford\u2019s eleventh hospitality investment in Chicago and Quadrum\u2019s second investment with Oxford in the city, after the Godfrey Chicago. The terms of the Essex Inn sale have not yet been disclosed.<\/p>\n<p><em>Image courtesy of <a href=\"https:\/\/www.essexinn.com\/\" target=\"_blank\" rel=\"nofollow\">the Essex Inn official website<\/a><\/em><\/p>\n<p><em>Click <a href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-tech-industry-driving-chicago-real-estate-market-2\/1004109803.html\" target=\"_blank\" rel=\"nofollow\">here<\/a> for more market data on Chicago<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture between Quadrum Global and Chicago-based Oxford Capital Group, L.L.C. recently announced the acquisition of the historic Essex Inn at 800 S. Michigan Ave. in Chicago&rsquo;s Historic Michigan Boulevard District.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[],"class_list":["post-1004106926","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oxford Capital, Quadrum Global JV Acquires Chicago\u2019s Historic Essex Inn on Michigan Avenue - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oxford Capital, Quadrum Global JV Acquires Chicago\u2019s Historic Essex Inn on Michigan Avenue\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Quadrum Global and Chicago-based Oxford Capital Group, L.L.C. recently announced the acquisition of the historic Essex Inn at 800 S. Michigan Ave. in Chicago&rsquo;s Historic Michigan Boulevard District.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-05T19:14:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-30T07:01:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/11\/Essex-Inn-1.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Oxford Capital, Quadrum Global JV Acquires Chicago\u2019s Historic Essex Inn on Michigan Avenue\",\"datePublished\":\"2014-11-05T19:14:08+00:00\",\"dateModified\":\"2020-04-30T07:01:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/\"},\"wordCount\":360,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/11\\\/Essex-Inn-1.jpg\",\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oxford-capital-quadrum-global-jv-acquires-chicagos-historic-essex-inn-on-michigan-avenue-2\\\/\",\"name\":\"Oxford Capital, Quadrum Global JV Acquires Chicago\u2019s Historic Essex Inn on Michigan Avenue - 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