Home » Lodging Hospitality Today's Top Reads » Shuttered Chicago Hotel Falls to Chapter 11

Shuttered Chicago Hotel Falls to Chapter 11

Dec 22, 2011 6:50 AM

From Chicago Real Estate Daily:
Owner Wants to Raze Property, Sell Land to Pay Debts
The long-running saga of the Purple Hotel in Lincolnwood [Chicago] took a new twist Wednesday when its owner filed for bankruptcy protection and floated a new plan to raze the shuttered hotel. The Chapter 11 filing in U.S. Bankruptcy Court thwarts a foreclosure suit that was filed in April against the Purple Hotel, an eyesore that village officials want torn down and redeveloped. Click here for the full story.

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