4/16/2008

CB Richard Ellis brokers sale of Oak Brook Wyndham

by

The Drake Oak Brook Hotel

Alexa Hospitality, a subsidiary of Chicago-based WexTrust Capital, has purchased the The Drake Oak Brook Hotel in Oak Brook for $14.25 million from locally-based R.P. Fox Associates.

The negotiations for R.P Fox were handled by Peter Greene of CB Richard Ellis.

The Wyndham hotel is located 15 miles of Chicago at 2301 York Rd. It contains 160 rooms and is situated on 9.3 acres of land. The hotel will be managed by Wyndham Hotel Management Company

Greene is a first vice president with CB Richard Ellis and is the former managing director with Insignia/ESG Hotel Partners. He has been involved in the hotel real estate business for over 40 years as an owner, financier, developer, operator and broker.

Address: 2301 York Rd., Oak Brook, Ill.

Size: 160 rooms

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Filed Under: Hotel/Resort

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