The former W.M. Hoyt Building along the Chicago River has been vacant for decades.
Developer Windfall Group told the Chicago Commission on Landmarks on Thursday that it wants to start transforming 465 W. Cermak Road, a warehouse along the South Branch of the Chicago River, into Pacifica of Chicago, a four-star hotel with a public riverwalk, as early as 2024.The Commission on Chicago Landmarks on Thursday recommended approving a special property tax incentive for the former W.M. Hoyt Building at 465 W. Cermak Road, along the South Branch of the Chicago River.
and completed in 1909, represents a time when even industrial properties included artistic flourishes. “I’ve loved this building for such a long time,” she said. “I’ve always wondered, ‘when is someone going to do something?’” “Chicago’s Chinatown is actually one of the few Chinatowns in the U.S. that is still growing,” she said. “But we also want to be a destination for a lot of people from outside Chicago as well.”Robert Habeeb, CEO of Maverick Hotels and Restaurants, which manages the 148-room SpringHill Suites by Marriott in Chinatown, said the neighborhood is often underestimated by investors.
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