Hotel rooms at Iselin, a former hotel that closed in 2018, are worth $10 million

Condensation cold rooms and cold rooms renovations are costing a former Iseli Hotel in Chicago $10M, according to a new report.

The new Iselina Hotel project is a large-scale renovation to the hotel’s original cold room and has the backing of former Mayor Rahm Emanuel.

Iselinas new owner has plans to build four rooms on the original property for $10,000 per room, and will convert two of the rooms to a conference room for $2,500 per night, according the report.

The remaining two rooms will be used as a conference center and private suite, which would cost $5,000 each.

The original cold rooms renovation cost $1.8M, with another $2.3M coming from a tax break.

The new renovation would cost about $10.8 million, the report says.

The renovation project is expected to be completed by the end of 2019, but the Iselini has not yet filed a formal plan with the Illinois Department of Planning and Development to sell.

The hotel closed in September 2018, and reopened in 2020.

It is currently being renovated with new glass windows and a new pool.