La Quinta Chicago Downtown Hotel Sale Recorded at $30.5M

The La Quinta Inn and Suites by Wyndham at 1 S. Franklin St. in the Loop sold for $30.5 million, according to a Cook County deed recorded June 4. CoStar reports the buyer as Jamp Hotels and the seller as Highgate Hotels.

Why it matters

The deed itself carries no buyer or seller name, only the current tax-bill mailing name on the parcel, which reads LQ CHICAGO LLC, a label consistent with the La Quinta brand at that address. The Jamp Hotels and Highgate Hotels names come from CoStar’s reporting, not the county record, and we have not independently confirmed them. Per CoStar, the hotel has 239 rooms, which puts the recorded price at roughly $128,000 per room. That gives Loop hotel owners and lenders a fresh, recorded comp for a limited-service downtown property.

The numbers

Cook County recorded the sale under document 2616021005 on June 4, 2026, covering two parcels (PINs 17162020020000 and 17162020010000) under property class 529, commercial. The declared price is $30,500,000. CoStar puts the same hotel’s sale at $30.5 million from Highgate Hotels to Jamp Hotels. The price and address match the county record, though the deed itself names neither party.

What’s next

No local filing yet discloses renovation plans for the property, and the Cook County Clerk’s office has not posted a follow-up document, such as a new mortgage, against the parcels. A capital improvement permit or a liquor license transfer at 1 S. Franklin St. would be the next public marker of new ownership taking over day-to-day operations. The deed lands in the same recording window as the eight commercial and industrial deeds worth $212.6 million Cook County logged between late May and early August. More deals on our Chicago page.