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agna Hospitality Group, a Rhode Island-based hotel investor that doubled down on Chicago during the pandemic, is now looking to sell two suburban properties as the hospitality market stabilizes. The company has listed the 369-key DoubleTree at 9599 Skokie Boulevard in Skokie and the 178-key Hilton Garden Inn at 1818 Maple Avenue in Evanston for sale. Real estate firms Berkadia and JLL are marketing the properties.

    Magna acquired both hotels as part of larger portfolio deals, with the DoubleTree purchased in 2021 and the Hilton Garden Inn bought in 2016. The sales will gauge investor confidence in the northern Chicago suburbs as interest rates decline and financing becomes more accessible. Local hotel sales have increased by 22% this year compared to last year, but property values remain sluggish.

    The DoubleTree features 21,000 square feet of meeting space, a rooftop ballroom, and renovated guest rooms. Its proximity to the redeveloping Westfield Old Orchard mall could enhance its value. The Hilton Garden Inn is just two blocks from Northwestern University and has undergone $6.8 million in renovations since Magna's acquisition in 2016. Nearby developments, including the $800 million Ryan Field rebuild and Church Street Plaza redevelopment, are highlighted as key selling points for both properties.