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NEWS & TRENDS THAT SHAPE THE INDUSTRY
The Falor Companies will own and Kimpton hotels & Restaurants will operate two condominium hotels in downtown Chicago. Units of about 475 square feet will sell for an average of $275,000.
"We have found pent-up demand for condominium hotel product in this city," says Robert Falor, president of the Chicago firm. "People are learning about the benefits of condo-hotel ownership versus straight condo ownership. They're finding they make a lot more sense as a second,...