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Sofitel Chicago Magnificent Mile Hotel Hits the Market
Dallas-based REIT Braemar Hotels & Resorts is offering the 415-room hotel for sale in Chicago's Gold Coast neighborhood.
Apr. 1, 2026 at 4:34pm
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Braemar Hotels & Resorts, a Dallas-based real estate investment trust, has put the 415-room Sofitel Chicago Magnificent Mile hotel up for sale. The property is located in Chicago's upscale Gold Coast neighborhood.
Why it matters
The sale of this prominent downtown Chicago hotel could signal broader trends in the city's hospitality market, as the industry continues to recover from the impacts of the COVID-19 pandemic. The outcome of this sale could provide insights into investor appetite for high-end hotel assets in major urban markets.
The details
The Sofitel Chicago Magnificent Mile features 415 guest rooms and is situated in the heart of Chicago's Gold Coast neighborhood, known for its luxury shopping, dining, and residential areas. Braemar Hotels & Resorts, the current owner, is a Dallas-based REIT that focuses on acquiring upper-upscale and luxury hotels.
- Braemar Hotels & Resorts acquired the Sofitel Chicago Magnificent Mile in an undisclosed transaction in 2019.
The players
Braemar Hotels & Resorts
A Dallas-based real estate investment trust that focuses on acquiring upper-upscale and luxury hotels.
Sofitel Chicago Magnificent Mile
A 415-room hotel located in Chicago's Gold Coast neighborhood, known for its high-end shopping, dining, and residential areas.
The takeaway
The sale of the Sofitel Chicago Magnificent Mile hotel could provide insights into the state of the hospitality market in major urban centers like Chicago, as the industry continues to recover from the impacts of the pandemic. The outcome of this sale will be closely watched by real estate investors and industry analysts.
