Northbrook investor Parag Patel purchased the 178-room Hilton Garden Inn at 1818 Maple Avenue for $23.7 million in mid-May, according to Cook County property records.
Per Crain’s Chicago Business, Patel is apparently banking on the fact that the new Ryan Field will bring in more visitors who will need hotel lodging.
“That was the main reason” to buy the property, Patel said via Crain’s. “The old Ryan Field did only weekend games. The new one is going to be doing weekdays — that’s going to be better for us.”
Magna Hospitality Group, based in Rhode Island, put the hotel up for sale in the fall of 2024 after reportedly spending $6.8 million on renovations to the space.
Crain’s also reported that Patel has purchased three other suburban hotels in the last two years: the 107-room Home2 Suites by Hilton in Schaumburg, the 155-room Aloft hotel in Bolingbrook and the 180-room Courtyard Chicago O’Hare.
“Downtown Evanston welcomes the new leadership team at the Hilton Garden Inn, and looks forward to working closely with them over the coming years,” said Andy Vick, executive director of the downtown business association. “We wish them great success, and hope that the hotel will continue to attract lots of conferences, business travelers, Northwestern families, and recreational tourists to the downtown district.”
The RoundTable reached out to the Hilton for comment on the sale, but they did not immediately respond.
Related Stories
Margo Milanowski is a staff reporter at the RoundTable covering education, city news, environmental action, arts, parks, and more. Margo graduated from Northwestern University’s Medill School of Journalism…
More by Margo Milanowski