CHICAGO— The joint venture between Oxford Lodging Advisory & Investment Group, LLC and Perry Capital has removed the Crowne Plaza flag from the Allerton Crowne Plaza Chicago here and renamed the asset the Allerton Hotel-The Landmark on Michigan Avenue. The joint venture acquired the 443-room property in November of 2006 from FelCor Lodging, LP. The 83-year-old property has been operated independently for its entire life except for the six years it was a part of the Crowne Plaza system. Currently, the new owners are implementing a design change that will update the hotel’s public areas and guestrooms but maintain its architectural significance. As part of this renovation project, the hotel lobby will be relocated back to its original second floor setting. In that setting it will be combined with the existing bar and restaurant. The third floor, meanwhile, will be converted into a ballroom and meeting space.
