REBusinessOnline

ASC Arranges $10.7M Refinancing for Boutique Hotel in Chicago

Ivy Boutique Hotel features 63 rooms.

CHICAGO — American Street Capital (ASC) has arranged a $10.7 million loan for the refinancing of the Ivy Boutique Hotel in Chicago’s Magnificent Mile district. The 63-room hotel was formerly an office building. The 15-story property features a rooftop deck, two banquet halls and spa services. Igor Zhizhin of ASC arranged the loan, which was provided by a debt fund. The borrower was not disclosed.

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