Waldorf Astoria Chicago

Waldorf Astoria Chicago
Company type	Hotel
Industry	Hospitality
Predecessor	Elysian Hotel Chicago
Founded	February 2009; 17 years ago
Founder	David Pisor (developer)
Headquarters	Chicago, Illinois, United States
Area served	Chicago Gold Coast neighborhood
Key people	Laurence Geller (owner, as of 2015)
Products	Hotel rooms and condominiums
Owner	Strategic Hotels & Resorts consortium with Wanxiang Group (as of 2015)
Parent	Hilton Hotels (brand)
Website	www.waldorfastoriachicago.com

The Waldorf Astoria Chicago, previously known as the Elysian Hotel Chicago, is a luxury hotel located at 11 East Walton Street within Chicago's prestigious Gold Coast neighborhood.

History

Originally developed under the name The Elysian, the project received approval in June 2005 and was built between 2006 and 2009. The 60-story tower, designed by Lucien Lagrange and developed by David Pisor, houses 188 hotel rooms alongside 51 condominiums, with a total estimated value of approximately $280 million. In 2009, condominium prices ranged from $2.5 million to $8.5 million.

The establishment opened its doors in February 2009, showcasing design influences drawn from the grand Parisian hotels of the 1920s, including a cobblestone courtyard that complements the character of the Gold Coast area.

During its initial two years, the hotel did not achieve profitability. In September 2011, following the departure of Pisor’s equity partner from the hotel sector and the abandonment of plans to convert The Elysian into a branded hotel, owner Jones Lang LaSalle put the property up for sale.

By November 2011, a consortium of investors collaborated with Hilton Hotels to acquire and rebrand the property as a Waldorf Astoria. Although the exact transaction amount was not publicly disclosed, estimates placed it around $95 million—equivalent to roughly $505,000 per room. The rebranding to Waldorf Astoria Chicago was finalized on February 1, 2012, with only minor modifications made to the building.

In June 2015, Sam Zell’s Equity Group Investments agreed to transfer ownership of the hotel for $113 million to an investment group led by Laurence Geller, founder of Strategic Hotels & Resorts, in partnership with Wanxiang Group’s real estate division.

Awards and honors

While operating as Elysian Hotel Chicago, it earned recognition as Condé Nast Traveler's leading U.S. hotel in 2011. It also secured first place in the Travel + Leisure 2012 World's Best Awards readers' poll and obtained a 2013 TripAdvisor Certificate of Excellence.

Location

Positioned within Chicago’s Gold Coast, which is listed on the National Register of Historic Places, the Waldorf Astoria Chicago is close to Oak Street, renowned for its luxury boutiques and spas. It also lies near State Street and Rush Street, both noted for vibrant nightlife scenes.

Among its retail occupants are upscale brands such as Marc Jacobs and Saint Laurent.

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