A Chicago investment firm alerted a city committee this week that it plans to buy the Omni Orrington Hotel.
Details about the sale to Greenfield Partners, a real estate investment firm, were not available Wednesday — including whether or not the deal had been finalized.
The 80-year-old Omni Orrington, 1710 Orrington Ave., has about 280 rooms on nine floors and is a part of the Omni franchise.
Gregory DeStefano, the senior vice president of design and development for Greenfield, appeared before Evanston City Council’s Administration and Public Works Committee on Monday night for the transfer of the hotel’s class B liquor license.
The transfer was approved by the committee and will be considered by the full City Council at its Jan. 27 meeting. The liquor license change cannot be finalized until the city receives contract closing information from the sale.
Greenfield declined to comment on any aspect of the sale. The company is a real estate investment firm with offices in Chicago and South Norwalk, Conn.
According to its Web site, www.greenfieldpartners.com, Greenfield buys property using money from investors and attempts to make the enterprise profitable.
“Our return objectives are opportunistic, and our holding periods range from three to seven years,” the site states.
Bruce Hutcheon, the general manager of the hotel, would not speak about the sale. However, he said business has not declined significantly.
“Business has been pretty much on par with the Chicago market and with the North Shore market in general,” Hutcheon said. “It has been down from previous years, but we have maintained our fair share of the business.”
At the committee meeting, Ald. Gene Feldman (9th) asked DeStefano about Greenwood’s plans, specifically whether it would keep the Omni Orrington as a hotel.
Richard Peach, president-elect of the Evanston Chamber of Commerce, said Greenfield has not disclosed its plans for the hotel.
“The issue of what is to come of the Omni Orrington has been kept close to the breast (of Greenfield Partners),” Peach said. “The business community is adopting a wait-and-see approach.”
Peach said he is interested in the outcome of the sale because the Omni Orrington has been a part of downtown for so long.
“It’s a historical landmark and part of Evanston since I was born,” he said. “It’s a piece of history, and it would be kind of sad if it were demolished.”
Troy Thiel, president of the Evanston Small Business Association, agreed with Peach about the Omni Orrington’s importance.
“The site is an important one,” Thiel said. “The hotel and convention space is crucial to downtown and is a wonderful piece of architecture.”
Peach said the Omni Orrington, which has smaller rooms than most modern hotels, has been losing business to downtown competitors.
“I know the manager (of the Omni Orrington), and they’ve been struggling with numbers,” Peach said.
The Omni Orrington is one of three major hotels in the downtown area. The Holiday Inn, 1501 Sherman Ave., became a part of the Best Western chain last year, and the Hilton Garden Inn opened at 1818 Maple Ave. in mid-2001.
“There has been a change in the marketplace,” he said. “With progress, you have to move on.”
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Firm aims to buy Omni Hotel
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Real estate investors won’t confirm sale details, but business was slow; many interested in fate of landmark
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“There has been a change in the marketplace. With progress you have to move on.”
Richard Peach,
President-elect of the Evanston Chamber of Commerce
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Pearl Wu/The Daily Northwestern
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The Omni Orrington Hotel in Evanston might be sold to a Chicago-based real estate investment firm.
