Look inside Chicago’s first micro-room hotel
More and more hotel chains have explored micro-room hotel concepts in recent years as a way to build cheaper and more efficient properties, as the cost of developing and owning real estate, especially in areas urban, is skyrocketing, said Rob Hunden, president of hotel consultancy Hunden. Strategic partners.
“Cruise ships have been designed this way for years…recognizing that room size isn’t the primary driver of stay, location is,” Hunden said. “In a place like downtown Chicago or New York, or sailing the oceans, the size of the room is secondary to the experience outside the room.”
In that vein, CitizenM is also touting the experience in its common spaces, which include several coworking spaces and walls adorned with quirky art with nods to Chicago, like a photo of Dennis Rodman in a Bulls jersey and a giant wall art hot dog. – with only mustard on it – overlooking the lobby.
The CitizenM Chicago has a separate entrance but shares amenity space with the 289 apartments above in the 47-story tower, nicknamed Millie in Michigan. A spokesperson for Sterling Bay said the apartments began to be let in the spring and are around 32% let today.
Sterling Bay and Magellan began construction of the $250 million tower early in the pandemic after securing a $174.5 million construction loan from Little Rock, Ark.-based OZK Bank.