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Marcus Corp. Buys Lease Rights to Downtown Chicago Site, Plans to Build Hotel.
Byline: Rick Rommell
Aug. 22--Marcus Corp. paid $13.4 million to buy the lease rights to a downtown Chicago site and is moving forward with plans to build a Baymont Inn & Suites there.
Marcus bought the rights from a company in which major stockholder and director Diane Marcus Gershowitz has an interest, according to a recent filing with securities regulators. The price was based upon independent appraisals and was approved by the Marcus board of directors, the filing said.
If Marcus builds a Baymont at the Chicago site, it would be the chain's first hotel in the heart of a big city. Marcus typically places the limited-service inns along interstate …
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