The new Hyatt Place hotel at 28 North Franklin Street is about half-way to its intended height of 18 stories. It’s just the latest in a flurry of new hotels being built, or that have recently opened, in downtown Chicago. Developers are taking advantage of Chicago’s notoriously high room rates, and the fact that there are virtually no low end options, or even “poor location” alternatives in the market.
OTO Development out of South Carolina is the name behind the project. When it opens in, the Hyatt Place will have 206 rooms.