The 'purple' eyesore at 4500 Touhy Ave. has a new owner that has plans to revive the hotel back to its glory days.
As of Friday, the Purple Hotel and surrounding property now belong to North Capital Group and Weiss Properties Inc., both of Skokie. The developers purchased the 8.5-acre property for $8.3 million during an auction at the Westin Hotel in Chicago last week.
The developers have said in the past that they want to turn the property into a mixed-use development, which would include commercial shopping, a banquet hall and possible gut rehab for the interior of the hotel.
“We are very pleased that the village has committed to working with us to bring our vision for the site to fruition,” said Jake Weiss of Weiss Properties. “We feel we wanted to accommodate the village to make sure this process happened.”