Sterling Bay has opened the Hyatt House Wesy Loop-Fulton Market.

The Canadian Imperial Bank of Commerce and the Republic Bank of Chicago provided a combined $42.4 million in construction financing. The combined mortgage matures in 2021.

The property rises 14 stories in Chicago’s Fulton Market neighborhood. The submarket has taken off in recent years, now a center for mixed-use developments and a rapidly growing coworking scene. The hotel is within half a mile of 4.2 million square feet of existing office inventory, with 1.8 million square feet under construction.

The Hyatt House features 10 suites in addition to standard guestrooms, with floorplans ranging from 191 to 365 square feet. Amenities include a 24-hour fitness center, 1,498 square feet of meeting rooms, a rooftop swimming pool and a business center. Retail space is available on the ground floor.

Source: CP Executive

Fulya Altunyay/[email protected]