Barrington developer Rich Curto s Chicago-based Gateway Investment Partners acquired a dilapidated Rosemont hotel property at auction in 2021 and poured millions into renovations all told, a $35 million investment.
Rosemont awarding TIF dollars for two hotel redevelopments Rosemont plans to award tax increment financing dollars to hotel redevelopment projects at the former Edward Hotel, right, and former Wyndham O Hare across the Jane Addams Tollway. Mark Welsh | Staff Photographer, 2020 A one-story, 16,000-square-foot portion of a hotel complex next to the Allstate Arena is intended for restaurants that would serve guests and arena visitors. Christopher Placek | Staff Photographer
Updated 7/19/2021 6:33 PM
Rosemont plans to give tax increment financing dollars to developers of two hotel properties near the Allstate Arena as an incentive for their redevelopment and reopenings.
The village board Monday agreed to give Chicago-based Gateway Investment Partners LLC up to $6.5 million for the planned renovation of the closed Edward Hotel, 6600 Mannheim Road.