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Talbott Hotel in Gold Coast selling for $50 million

The Gold Coast’s Talbott Hotel is selling for the first time in 50 years, with a venture of Chicago real estate firms Sterling Bay and Conlon & Co. set to buy it for about $50 million.

The 16-story, 149-room boutique hotel at 20 E. Delaware St. has been owned by Basil Kromelow since 1965, when he bought it along with his father, the late Jack Kromelow.

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