Chicago, June 23, 2015 – Chicago-based Jupiter Realty Company and Boston-based Intercontinental
Real Estate Corporation announce the construction commencement of a Hilton Hampton Inn and
Homewood Suites development at 118 N. Jefferson Street in Chicago’s West Loop. “We and our partner,
Intercontinental Real Estate Corporation, are delighted to be bringing the highly regarded Hilton
Hampton Inn and Homewood Suites flags to the vibrant West Loop market. These urban chic hotels
should set the standard for guests wishing to exercise their brand loyalty in a downtown setting,” said
E. Michael Pompizzi, Jupiter Realty Company President.
The property will include 210 Hampton Inn and 126 Homewood Suites rooms together with an indoor
pool, fitness room, outdoor landscaped terrace, two business areas, 4,900 square feet of meeting rooms, a
guest laundry and two buffet dining areas. Additionally, the 23-story building will have 7,500 square feet
of ground floor retail and 105 interior parking spaces. “We are proud to break ground on our second
development project in Chicago with the ability to create both union jobs and stable returns for our
investors,” said Tom Taranto, Director of Acquisitions, Portfolio & Asset Management at Intercontinental
Real Estate Corporation. “We could not be more pleased with the dedication and focus of our partners at
Jupiter Realty and the entire construction project team.”
Brendan Reilly, 42nd Ward Alderman, added “I am pleased that this project will bring a needed amenity
to the neighborhood together with almost 300 union construction jobs and over 100 permanent positions
The hotels are scheduled to open in September 2016.
About Intercontinental Real Estate Corporation: Intercontinental Real Estate Corporation is an SEC
Registered Investment Adviser with decades long experience in real estate investment, finance,
development, construction management, and asset management. Since 1959, Intercontinental has
managed, developed, or owned over $10 billion in real estate property. Today, Intercontinental manages a
portfolio in excess of $4 billion for its clients. The Intercontinental portfolio is diversified both by robust
property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and
Core-Plus properties, as well as in Value-Add operating properties and development projects.
About Jupiter Realty: Chicago-based Jupiter Realty was incorporated as a privately held, vertically
integrated development, investment and management firm in 1985. Jupiter acquires, develops, finances,
renovates, repositions, manages and eventually sells hotels, mid-rise or high-rise office buildings, office
parks, apartments, shopping centers, free-standing retail stores, industrial buildings, mixed-use properties
and land in response to the ebb and flow of market cycles. Jupiter applies these disciplines to both its own
and its institutional partners’ accounts and portfolios. Jupiter works closely with corporate clients, major
tenants, institutions, pension funds, banks, REITs, lenders and other financial partners.