O
ver 2,900 buyers have purchased timeshares in a high-rise near the Magnificent Mile, with Hilton Grand Vacations Club's Chicago property selling 2,862 units since 2022. The top six floors of the Doubletree Hotel at 300 East Ohio Street were converted into 78 studio and one-bedroom timeshare units after being acquired by the Florida-based company in 2019 for $54.5 million.

    Timeshares offer limited ownership rights with annual or biannual usage periods, priced between $20,500 and $70,000. This model appeals to buyers seeking affordable options for vacation stays, providing a small fraction of property ownership and guaranteed use for a specified period. For example, one buyer paid $37,000 for 0.12 percent ownership, granting an annual week-long stay in a studio unit.

    The property's location within walking distance of Navy Pier and cultural attractions has contributed to its appeal. The robust sales indicate confidence in Chicago's recovery, with downtown condo sales growing 6 percent last year. Alternative real estate models like hotel-condos have also gained momentum, with sales more than doubling at Trump International Hotel & Tower.