Marriott International plans to open a 350-room luxury hotel in one of Chicago’s most recognizable skyscrapers in a deal set to bring more changes to the former John Hancock Center.
The hotel giant is in advanced talks with Chicago real estate firm Hearn to bring its Edition hotel brand to the 100-story tower at 875 N. Michigan Ave., according to people familiar with the situation.
If the agreement is finalized, the hotel will be on floors 23 through 34, with an entrance and lobby lower in the tower, sources said.
Bringing in hotel guests would be the latest in a wave of changes in the iconic property over the past decade and a half, which has included the namesake insurance company removing its name from the tower in 2018 after stopping naming-rights payments. That came almost five decades after John Hancock built the structure known for its black, X-shaped braces.
It would be the latest example of outdated office space in Chicago and other major cities being redeveloped into new uses such as apartments, hotels and even data storage.
Hearn has owned the office and parking portions of the tower since paying $140 million in 2013. The firm in recent years has sought new uses, including medical offices or a hotel, to fill large blocks of vacant office space in the property at the north end of the shopping district known as the Magnificent Mile.
The hotel is planned for the center of the office portion of the skyscraper that was completed in 1970. It will be the Chicago entry for the Edition luxury brand, which was created in partnership between Marriott and hotelier Ian Schrager.
The brand’s first hotels opened in London in 2013, Miami in 2014 and New York in 2015, with expansion ramping up nationally and internationally in recent years.
It’s unclear when the Chicago hotel is expected to open. Bethesda, Maryland-based Marriott did not respond to requests for comment from CoStar News.
“As one of the most iconic buildings in the Chicago skyline, we are exploring potential opportunities to promote 875 N. Michigan Ave., the Streeterville neighborhood, and the city at large on a regular basis,” Hearn said in a statement. “We will share updates at the appropriate time.”
The firm declined to comment beyond the statement.
Latest change for skyscraper
The hotel plan, earlier reported by Crain’s Chicago Business, brings more expected change to the city’s fifth-tallest building.
Hearn’s purchase of the office and parking portions of the property on the floors followed sales of broadcast antennas, retail and restaurant space and the observatory now known as 360 Chicago to separate buyers in 2012 and 2013. Residential condominiums are individually owned.
The Hearn venture owns parking on levels 4 to 12 and offices on floors 13 to 41.
The Signature Room restaurant on the 95th and 96th floors abruptly closed in 2023 after more than three decades in business as a tourist attraction and destination for celebrations such as wedding rehearsals and anniversary dinners.
The owner of the 94th-floor observatory, Paris-based Magnicity, bought the former Signature Room floors in 2024. Last year, it unveiled plans to expand the observatory into the former dining space and add an event space.
Shopping district resurgence
Work to expand the observatory is one example of large deals that promise to return the city’s best-known shopping boulevard to past glory after years of large closures and sluggish demand from retailers.
Recent openings have included a Harry Potter-themed store, a $50 million magic venue called The Hand & The Eye and a return to the street by Japan’s Uniqlo. A first-of-its-kind attraction called the Candy Hall of Fame was among recently announced leases.
CoStar News recently reported deals for a new, three-concept space for American Eagle Outfitters, a relocated and larger Levi’s store and talks by Nike to move its longtime flagship down the street.
Last month, the owner of Chicago’s Water Tower Place vertical mall announced plans for a $170 million redevelopment.