Waldorf Astoria Chicago
A luxury hotel in Chicago's Gold Coast neighborhood, originally opened as the Elysian Hotel and converted to the Waldorf Astoria brand in 2012.
Last updated August 22, 2026
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Overview
Waldorf Astoria Chicago is a luxury hotel at 11 East Walton Street in Chicago's Gold Coast neighborhood. The property occupies a prominent site near Oak Street, State Street, and Rush Street, placing it within a district known for high-end retail, restaurants, nightlife, jewelry stores, and spas. The hotel is also close to the historic Gold Coast area, which is listed on the National Register of Historic Places. The building was developed under the name The Elysian. Planning approval was obtained in June 2005, construction took place from 2006 through 2009, and the hotel opened in February 2009. Designed by Chicago architect Lucien Lagrange and developed by David Pisor, the project combined a 188-room hotel with 51 condominium residences in a 60-story structure. Its architecture was conceived as a modern interpretation of grand Parisian hotels of the 1920s, using colonnades, spires, and a cobblestone courtyard and motor entrance to create a formal arrival sequence associated with traditional luxury hospitality. The original project was intended to become the foundation of a broader Elysian hotel brand, but the plan did not develop as expected. The property reportedly struggled to generate a profit during its first two years. In 2011, its ownership was offered for sale after an equity partner decided to leave the hotel business. An investment group and Hilton subsequently acquired the property and converted it into a Waldorf Astoria hotel. The renaming became effective on February 1, 2012, while much of the physical property remained substantially unchanged. As a Waldorf Astoria property, the hotel is positioned around upscale accommodation, attentive service, residential-style privacy, and a design language intended to combine contemporary comfort with classic European references. Its accommodation offering includes guest rooms and suites, while its broader hospitality proposition includes food and beverage venues, event and meeting facilities, and the Waldorf Astoria Spa. The property has also included street-level retail tenants, including Marc Jacobs and Saint Laurent, which reinforce its connection to Chicago's luxury shopping district. The hotel has received significant travel-industry recognition. Under its former Elysian identity, it was named Condé Nast Traveler's top hotel in the United States in 2011. It ranked first in Travel + Leisure's 2012 World's Best Awards readers' survey and received a TripAdvisor Certificate of Excellence in 2013. These distinctions helped establish the property as one of Chicago's better-known luxury hotels during and shortly after its transition into the Waldorf Astoria system. The property is a single destination rather than a standalone international hotel chain. Its brand identity is supplied by Waldorf Astoria Hotels & Resorts, part of Hilton's luxury portfolio, while the building's history, architecture, and location remain central to its local identity. Public reference material does not establish a current individual owner, current general manager, current financial results, or a dedicated official website for the individual hotel; those fields are therefore left unspecified.
History
Waldorf Astoria Chicago began as The Elysian, a luxury hotel and condominium project planned for Chicago's Gold Coast. The development received approval in June 2005. Construction followed between 2006 and 2009, with Chicago architect Lucien Lagrange responsible for the design and David Pisor associated with development of the project. The completed structure rose 60 stories and combined a 188-room hotel with 51 condominium residences. The combined project was estimated at approximately $280 million in development value, although that figure describes the overall development rather than hotel operating revenue. The architecture was designed to evoke the character of grand Parisian hotels from the 1920s. A cobblestone courtyard, formal colonnades, spires, and a motor court shaped the arrival experience. These elements were intended to complement the established architectural character of the Gold Coast while presenting a contemporary high-rise hotel. The property opened in February 2009 as the Elysian Hotel Chicago. The original business concept extended beyond one property. The developers had envisioned the Elysian as the beginning of a hotel brand, but the broader expansion plan did not gain traction during the difficult economic environment surrounding the 2008 financial crisis. The Chicago hotel also reportedly failed to make a profit during its first two years. In September 2011, its owner, identified in contemporary reporting as Jones Lang LaSalle, was seeking a buyer after an equity partner chose to leave the hotel sector rather than continue developing the Elysian concept. By November 2011, an investment group and Hilton Hotels had announced an agreement to purchase the property and convert it to the Waldorf Astoria brand. Waldorf Astoria had previously been considered for the site as part of Hilton's international expansion, but the plan had been delayed by the economic downturn. The purchase price was not publicly disclosed in the cited reference material. The hotel changed its name to Waldorf Astoria Chicago on February 1, 2012. The rebranding was primarily a change of operating and brand identity; most of the physical hotel remained substantially the same. The hotel gained recognition soon after opening. While operating as the Elysian, it was named the top hotel in the United States by Condé Nast Traveler in 2011. It subsequently placed first in Travel + Leisure's 2012 World's Best Awards readers' survey and received a TripAdvisor Certificate of Excellence in 2013. These awards supported the hotel's positioning as a high-end Chicago destination during the transition into the Waldorf Astoria portfolio. In June 2015, Sam Zell's Equity Group Investments was reported to have reached an agreement to sell the hotel for $113 million to a group led by Laurence Geller, the former founder of Strategic Hotels & Resorts, with participation from the real-estate arm of Chinese manufacturer Wanxiang Group. The cited material does not establish the property's current ownership following that transaction. Hilton remains the parent company associated with the Waldorf Astoria brand, but brand affiliation should not be treated as proof of real-estate ownership. The hotel continues to be identified with the Gold Coast location and with a luxury proposition centered on rooms, suites, spa services, food and beverage, events, and personalized hospitality. Its surrounding retail environment includes high-end boutiques and jewelry stores on and around Oak Street. Publicly available reference material supplied for this dossier does not provide a current executive roster, current operating statistics, current financial performance, or a confirmed dedicated hotel website.
- 2015
Reported ownership transaction
[1]A group led by Laurence Geller reportedly agreed to acquire the hotel from Equity Group Investments, with Wanxiang's real-estate arm included in the buyer group.
- 2013
Receives TripAdvisor Certificate of Excellence
[1]The property was listed as a recipient of a TripAdvisor Certificate of Excellence.
- 2012
Rebranded as Waldorf Astoria Chicago
[1]The hotel adopted its current Waldorf Astoria name on February 1, 2012.
- 2012
Ranks first in Travel + Leisure readers' awards
[1]The hotel ranked first in Travel + Leisure's 2012 World's Best Awards readers' survey.
- 2011
Named a leading United States hotel by Condé Nast Traveler
[1]The property, still operating as the Elysian, was named Condé Nast Traveler's top hotel in the United States.
- 2009
The Elysian opens
[1]The 188-room hotel opened in February 2009 as The Elysian Hotel Chicago.
- 2006
Construction begins
[1]Construction of the hotel and condominium development began during the 2006–2009 building period.
- 2005
Development approved
[1]The project that became The Elysian received approval in June 2005.
Products and positioning
An urban luxury hotel emphasizing privacy, personalized service, refined architecture, premium accommodations, and proximity to Chicago's Gold Coast shopping and nightlife.
Accommodation · 2009
Guest rooms
The hotel provides luxury guest rooms within its Gold Coast property. The original Elysian project was designed with 188 hotel rooms, and the accommodation proposition emphasizes upscale interiors, privacy, and service associated with the Waldorf Astoria brand.
Accommodation · 2009
Suites
Suites form the higher-end accommodation tier of the property, offering more space and a residential-style experience for guests seeking an extended or more private stay. Specific current suite counts and configurations are not established in the supplied reference material.
Wellness · 2012
Waldorf Astoria Spa
The Waldorf Astoria Spa is the hotel's principal wellness offering. It supports the property's luxury positioning through spa treatments and related relaxation services. The supplied material does not specify the current treatment menu, facilities, or operating hours.
Food and beverage · 2009
Dining and beverage venues
The hotel includes restaurants, bars, and other food-and-beverage facilities as part of its full-service hospitality offer. A rooftop bar is identified in the existing dossier, but the supplied reference material does not provide a confirmed current venue name or detailed menu.
Hospitality services · 2009
Meetings and events
As a large luxury hotel, the property offers event and meeting-related hospitality alongside rooms, dining, and spa services. The supplied sources do not establish the current size or configuration of its meeting facilities.
Brand decisions
2015
Reported sale to a group led by Laurence GellerM&ABackground
Equity Group Investments, associated with Sam Zell, was reported to be selling the hotel after the Waldorf Astoria rebranding.
Action taken
A group led by Laurence Geller, including the real-estate arm of Wanxiang Group, reportedly agreed to acquire the property.
Aftermath
The cited material does not establish the property's subsequent ownership structure or operating changes.
Reported sale price. $113 million (2015 reported transaction)
2011
Pursuit of a sale and Waldorf Astoria conversionM&ABackground
The Elysian reportedly struggled to make a profit during its first two years, and an equity partner exited the hotel business. The ownership therefore pursued a sale while Hilton considered the property for its Waldorf Astoria expansion.
Action taken
An investment group and Hilton announced plans to purchase the hotel and convert it from The Elysian into a Waldorf Astoria property.
Aftermath
The property was renamed Waldorf Astoria Chicago on February 1, 2012, with most of the existing physical hotel retained.
Recent events
- 2015
Waldorf Astoria Chicago is reported sold to a group led by Laurence Geller[1]
M&A
A group led by hotel investor Laurence Geller, with participation from the real-estate arm of Wanxiang Group, reached an agreement to acquire the hotel from Sam Zell's Equity Group Investments.
- 2012
The property becomes Waldorf Astoria Chicago[1]
Product generation · Other
The hotel adopted the Waldorf Astoria Chicago name on February 1, 2012, completing its transition from the Elysian identity.
- 2011
Elysian ownership considers a sale after weak early performance[1]
Other
The property was reported to have failed to make a profit during its first two years. A sale was pursued after an equity partner withdrew from the hotel business.
- 2011
Hilton and an investment group acquire and rebrand The Elysian[1]
M&A · Product generation
An investment group and Hilton announced plans to purchase The Elysian and convert it into a Waldorf Astoria property.
- 2009
The Elysian hotel opens in Chicago's Gold Coast[1]
Other
The 60-story hotel and condominium development opened in February 2009 under the Elysian name. The project included 188 hotel rooms and 51 condominium residences.
Sources1 sources
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