The Palatine Village Council approved plans to convert the – formerly the Hotel Indigo – into a senior residential building.
Park Ridge developer Tom Leontios said the project will cost about $14 million. When the conversion and renovation is complete, the building will have 168 units for seniors, as well as two restaurants and a retail shopping area.
"This will be all-inconclusive," Leontios said. "It will include meals, activities, a wellness center."
The hotel at 920 E. Northwest Highway has been in Palatine since 1982. Recently the name was changed from the Hotel Indigo to the Hotel Bollero. Leontios said the extensive rehabilitation of the property and makeover will take about six months and should begin by the end of this year. The senior residential building will serve people 55 and older.
Leontios said the location of the hotel and the Palatine area were big draws for the project.
"We want to take advantage of some of the best park district property in Cook County," Leontios said, referring to the close proximity of the .
Palatine District 2 Council Member asked whether the fire department had any concerns with the new use for the building. Palatine Fire Chief Scott Andersen said the building had sprinklers. "I think from a fire protection stand point we'd be fine. There would be little to no upgrades needed," he said.
The hotel has about 191 rooms, those will be converted to 168 apartments. Leontios said that there also would be extensive work done to the outside of the hotel.
"We want to make it more residential in character," he said. "As you the outside needs a lot of paint; fixing some of the deferred maintenance on the building."
Leontios said the hotel had focused its marketing efforts toward the Schaumburg area in an attempt to be something a corporate hotel.
"Our marketing efforts are going to turn into the city of Palatine," Leontios said. "Palatine has a very loyal family base."