CHICAGO — JLL Capital Markets has secured the refinancing for a dual-branded hotel in Chicago’s River North district. The property comprises the 270-room Residence Inn River North and the 253-room SpringHill Suites River North, both of which are Marriott-affiliated and located at 410 N. Dearborn St. Danny Kaufman, Jeffrey Bucaro and Malia Buljat of JLL worked on behalf of the borrower, a joint venture between Friedman Properties and White Lodging, to secure a fixed-rate, five-year loan through PGIM.
Both hotels completed a renovation of all guestrooms in April 2025. Public space and meeting room renovations are slated for completion in February. The property features 1,358 square feet of meeting space, a fitness center and multiple food-and-beverage outlets, including two new restaurant concepts by Lettuce Entertain You — Gus’s Slip & Dip and Crying Tiger — that opened on the ground floor. The Residence Inn offers suites with full kitchens, separate living areas and complimentary breakfast. The SpringHill Suites offers suites with kitchenettes and amenities.