The Fordham Co. announced the acquisition and redevelopment of Chicago’s Ambassador East Hotel, located at 1301 N. State Parkway in Chicago’s Gold Coast neighborhood. The complete transformation of the classic 1926 hotel will include exquisite condominium-hotel units designed by Laurie Miller and a revitalized Pump Room. Financing was provided by Fremont Investment and Loan.
“With an incredible team in place that has their fingers on the pulse of design, culinary treasures, exciting entertainment and high-end hotel management, we will re-establish the Ambassador East as one of Chicago’s finest destinations,” says Christopher Carley, chairman of The Fordham Co. The property will include one of Chicago’s finest spa and fitness centers and a new indoor pool, subject to city approval.
Units at the Ambassador East range in size from about 300 to 1,500 square feet, and prices range from $275,000 to $1,400,000. The Ambassador East is rich in Chicago tradition. For nearly 80 years, movie stars have called it their home away from Hollywood and dined at the hotel’s famed Pump Room. The Ambassador East has been the setting for many movies, including Alfred Hitchcock’s “North by Northwest” and “My Body Guard.”
For more information, contact Joanna Mineau with Treacy Marketing Group at 312.482.8900, ext. 208, or visit www.fordhamco.com.