In the larger of the two transactions, a venture of Uniondale, N.Y.-based Navika Group paid $21.5 million last week for the Hyatt Regency Deerfield at 1750 Lake Cook Road in the northern suburb, according to Lake County property records. The venture bought the 300-room hotel from an entity led by Chicago-based Phoenix Development Partners, which paid $31.5 million.
Hotel, spa and retail building planned on massive Hickory Creek estate
Investors who last year purchased a Denton County estate that’s one of North Texas’ most elaborate residences are planning to start construction on a hotel and retail building on the property. The Champ d’Or estate north of Dallas was considered Texas’ largest and most expensive home when it was built in 1999. The 48,000-square-foot mega mansion cost $52 million when it went up north of Lewisville Lake in Hickory Creek.
