Braemar Lists Sofitel Chicago for Sale at Gold Coast

Braemar Hotels & Resorts has placed its Sofitel Chicago in the Gold Coast neighborhood up for sale. The property is a 415-room, 32-story triangular prism building at 20 East Chestnut Street, marketed by Dallas-based Braemar through JLL.

Braemar originally acquired the hotel for $153 million in 2014 and has not disclosed a formal asking price for the current offering. The hotel has a brand agreement with Accor’s Sofitel through 2041, but it is unencumbered by management, giving a new owner flexibility to rebrand. JLL highlights a $12.8 million guest room renovation completed in 2018.

Financially, the hotel generated about $6.2 million in earnings last year, up 8% versus 2024, while revenue per available room edged down to $182.76 from $184. RevPAR remains above the Downtown Chicago average reported for 2025.