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The owners of the Elysian Hotel on the Gold Coast have hired Chicago-based Jones Lang LaSalle Inc. to sell the property,
Crain’s Chicago Business is reporting
.
The 60-story, $280 million hotel was designed by Chicago architect Lucien Lagrange. Developed by David Pisor and located at 11 E. Walton St., the Elysian
: 51 condos stacked atop a 188-room hotel, which, like all high-end hotels, is struggling in today’s economy.
The hotel opened in December 2009.
Jones Lang LaSalle is seeking buyers because Mr. Pisor’s main equity partner, Arcapita Inc., a Bahrain-based investment group, wants to cash out, Crain’s reports.
