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US: Oxford Capital Group has paid $23.3 million for 59 Temple Place and will convert it into a boutique hotel.
The building, in Chicago‘s Downtown Crossing neighborhood, is currently an 11-storey office and retail building. It was acquired from Northland Investment Corp.
Chicago mayor Thomas M. Menino said: “There is excitement on every block in Downtown Crossing. It is great to welcome Chicago-based Oxford Capital Group to the mix. The top-notch hotel that they have planned will further this neighborhood’s remarkable energy and growth.”
The project will transform a pair of connected buildings on Washington Street between West Street and Temple Place.
www.oxford-capital.com
