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Chicago’s swanky Elysian hotel to become a Waldorf Astoria

Chicago’s acclaimed Elysian will soon no longer be an independent luxury boutique hotel.

According to Crain’s Chicago, it’s going to become a Waldorf Astoria, a Hilton brand.

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Crain’s Chicago cites unnamed sources, but Hotel Check-In has heard the same information from sources. Other luxury brands from the U.S. and abroad had also visited the hotel to possibly run it.

The hotel will take a brand name because the other part of the news is that billionaire financier Sam Zell is buying the hotel for about $95 million, sources tell Crain’s.

If true, the per-room price for the 188-room hotel would be $505,000 – the highest, Crain’s says, for a Chicago hotel. Zell apparently expects to lift the hotel’s value by bringing in Hilton, which can manage the hotel and market it to its millions of customers.

The article says that a Hilton spokesman declined to comment, as did a Zell spokesperson.

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The hotel is about a five-minute walk from the Park Hyatt and Peninsula hotels. It’s part of a 60-story tower that has 51 high-end condominiums and one Michelin-star restaurant, Ria. The Elysian’s suites start at $525, Crain’s says.

Readers: Have you been to the hotel, even if just to have a cocktail in the bar or eat dinner at one of its two restaurants?

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