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In July 2012, a joint venture between Clearview Hotel Capital and a partner acquired the fee simple interest in the 525-room Westin O'Hare in Rosemont, Illinois. The asset was acquired for less than 30% of its sale price in 2006 from a special servicer that had taken title to the asset in 2010. Corporately managed by Starwood, the hotel was originally built in 1984 and is located two miles from Chicago's O'Hare International Airport. The hotel is proximate to a number of local demand generators including the Donald E. Stephens Convention Center, the Rosemont Theatre, the Allstate Arena, and the recently opened Rivers Casino. The Property features 45,000 square feet of meeting space, a restaurant, a bar, a gift shop, and 707 surface parking spaces. Clearview has underwritten $18 million of capital expenditures, with a comprehensive scope that includes improvements to the meeting space, lobby, guestrooms, and corridors.