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Deal Reached on Vacant Dearborn Hotel

The new hotel is expected to open later this year.

A near-completed hotel on Michigan Avenue that was slated to open as a Holiday Inn Express a couple of years ago now has a new owner, who is working to open the hotel later this year.

We have written several stories about the hotel, the most recent in November when we received word that a new buyer was working on purchasing the nearly-completed hotel from a bank. The good news is a deal was reached between the two parties and the hotel is expected to open as a Holiday Inn Express.

The property, just west of Telegraph on Michigan and adjacent to Toys R Us, landed in the hands of the bank when the original developer simply ran out of money and couldn’t finish the project.

The out-state buyer, who owns other hotels, intends to open as a Holiday Inn Express, a person familiar with the negotiations tells us.

This entry was posted on Sunday, January 8th, 2012 at 5:30 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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  • Dennis

    Our community is going to see new people moving our way, with this location, unfortunately it will be the hookers from Inkster.

  • Harry

    I understand how our local chamber of Commerce must have been working so hard, along with our illustrous Mayor, to attract this to our town. Maybe this will be a place for O’Reilly’s convention center after all.

  • tdogg

    Who would you rather see in there, ladies of the night engaging in good old fashioned commerce, or a preferred developer neglecting maintenance, raising the rents so high the property went bust, and and then ignoring his tax bills?

  • Saab

    This is where Somers will hope to be workinng, when he loses in his attempt to run for Circuit Judge, but I personally don’t think he will get it, because of all his past screwups.