New 200-room hotel to be built on Navy Pier

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CHICAGO  – A new $90 million hotel will be built on Navy Pier.

Construction on the five-story hotel will be begin later this year and the hotel will be ready sometime in late 2018.

The mayor’s office says the hotel will have more than 200 rooms and sit above the Festival Hall on the East end of Navy Pier.

A spokeswoman for the Pier says the developer is finalizing the financing for the project and public money will not be used to build it.

The idea of a hotel was part of a long-term vision put forth in 2011 to remake the popular lakefront attraction.

The city says the project is being developed and managed by Rosemont-based First Hospitality Group.

The design is from Chicago architect Jackie Koo, who designed the Wit hotel at State and Lake streets.