Wednesday Report: Hotel chain woes | Downtown foreclosure | Trading firm move

Prime Group owner mulls Chapter 11 for hotel chain (Crain's) — Extended Stay America is considering filing for Chapter 11 bankruptcy protection after auditors raised doubts about the survival of the budget hotel chain, which New York real estate investor David Lichtenstein acquired in 2007 in a highly leveraged $8-billion deal. Mr ... Read More Foreclosure suit hits Chicago Athletic Assn. hotel conversion (Crain's) — The foreclosure wave has crashed over a joint venture that planned to convert the Chicago Athletic Assn. property on South Michigan Avenue into a 300-room Omni hotel. The partnership of Atlanta-based Songy Partners LLC and Cleveland-based Snider-Cannata Interests LLC failed to pay ... Read More • Trading firm moving to One Financial Place • Deal ends contractor's lawsuit against broadcast museum • Experian in deal to sell, lease back office building • General Growth case could devastate loan business: trade group • Jones Lang LaSalle swings to loss in first quarter Download Crain's Directory of Chicago Real Estate Dealmakers Submit an event for our weekly calendar. Send us news of your job change. Get news from ChicagoRealEstateDaily.com delivered free to your desktop