Deerfield's Janko Group Mulls Building Hotel in Lake Forest

A Deerfield-based developer has plans to open an office building or hotel at a Conway Office Park property it just acquired.

According to Crain’s Chicago Business’ Chicago Real Estate Daily, Janko Group just paid $5.7 million last week for the 9.7-acre property at 200 N. Field Drive in Lake Forest. It was sold by Duke Realty, with a $3.7 million loan financed from First State Bank.

Managing Director Gary Janko said a decision on what to build on the site should come in six months or so.

“The cost we bought the land for was a unique opportunity,” he said. “We think there’s a market for office or hotel, and we haven’t figured out how to play that card.”

Janko added his firm will explore the market for office tenants that could be a part of a 170,000-square-foot build-to-suit development.

The developer also has been in talks to bring a Hyatt Place or Hyatt House hotel, or both, to the site, Janko said.

Read more via Crain’s Chicago Business