The city has cleared the way for work to begin on the long-stalled Toyoko Inn Hotel near Union Station.
The 24-story hotel would have up to 615 rooms and parking for 123 cars, according to Curbed.
A building permit was issued this week for foundation and basement work on the project, with an estimated price tag of $2 million.
The project was proposed in 2011, though the property at 320 South Clinton Street remains a parking lot near Old St. Pat’s Catholic Church, according to Curbed.
A venture led by project designer Richard Kalb of Hotel Architect DPC is behind the plan. It bought the property for $4.7 million in 2006 and took out an $18.2 million mortgage on it from Fuyo General Lease USA in 2009, according to Cook County records.
Long delays have also marked the no-frills hotel chain’s entry into the New York market. A hotel from the Japanese chain proposed for Long Island City in New York in 2010 is finally becoming a reality. [Curbed] — John O’Brien