1659 W. Division St. Courtesy of Loopnet
Published by Wicker Park, Bucktown real estate contributor: Thyra DeCicco
Wicker Park is getting a new hotel hybrid. A building that has been a "single room occupancy" or SRO building is getting a new life and a chic makeover. According to a report published yesterday via Chicago Real Estate Daily, this turn of the century building is being transformed into a corporate housing-hostel hybrid, "renting rooms to companies bringing out-of-town employees to Chicago for extended work trips and to visitors here for shorter stays".
Holiday Jones, as the property will be called, is located at 1659 W. Division Street (Paulina and Division). It will have 35 rooms, each offering about 150 square feet and costing $70 to $150 per night. Longer term stays will qualify for lower rates.
Only 5 or 6 of the 35 units, will have a private bath. Accommodations will include a shared kitchen and 24 hour staffing. This building includes a 1st floor commercial space (formerly the home of shoe store Pump). Owners are planning to include a small cafe offering coffee and pastries in that space.
Holiday Jones is looking to open later this Summer and will target younger travelers who don't want to stay in downtown Chicago.
Wicker Park SRO To Morph Into Hotel Hybrid [CRED]