The Opportunity

Berkadia Hotels & Hospitality (‘Berkadia’) has been exclusively retained in connection with the solicitation of offers to acquire the Hyatt Regency Deerfield (the 'Property', 'Asset', or 'Hotel'). The 300-room full service Hotel, located in the Chicago North hotel submarket, was originally built in 1988 and underwent a comprehensive $14 million renovation in 2018 and 2019. During 2019, the property realized $12.3 million in total revenues and an NOI of $929,063 (7.7% margin). ADR in 2019 grew at 8.6% rate to $136.2 – realizing a $77.5 RevPAR and 93.4% penetration index rate when compared to the competitive set.

Fresh out of its transformative renovation, the Hotel was impacted by the Covid-19 pandemic, when business travel and events came to a complete halt. This unprecedented impact to the lodging industry limited the ability of the Hotel to fully realize the post renovation performance the property was trending towards. With the pandemic in the rearview mirror and business group travel in an accelerating upward trend, the Hotel is in a unique position, as one of the most recently renovated hotels in the competitive set, to capture the returning business and group demand. ​

The property is conveniently located directly adjacent to the Walgreens Boots Alliance (Fortune 500 Rank #18) corporate headquarters and surrounded by over 12.7 million square-fee of class A office space within a 5-mile radius. Chicago O'Hare International Airport, located 15 miles south, is the fourth busiest airport in the world (2021) and ranked #1 in 2019 for the most connecting flights, serving as major domestic and international travel hub.

This transaction represents a unique opportunity to acquire a premium asset below replacement cost and benefit from the accelerating recovery of corporate business travel, group demand, and market economy.

investment Highlights

Transformative $14M renovation
Accelerating business and group demand recovery
Significant management and operational upside
The Hotel is located outside of Cook County, avoiding high property tax reassessment risk
No competitive supply entering the submarket in over five years and no new construction in the development pipeline
Adjacent to Walgreens Boots Alliance Corporate Headquarters




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IL Broker of Record

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1111 Brickell Ave
Suite 1650
Miami, FL 33131
4445 Willard Ave
Suite 1200
Chevy Chase, MD 20815

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. ​

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