Drake Hotel

Drake Hotel, commonly known as The Drake, is a historic luxury, full-service hotel at 140 East Walton Place in Chicago, Illinois. It stands on the lake side of Michigan Avenue, near Oak Street Beach and the northern end of the Magnificent Mile. The hotel opened in 1920 and became one of Chicago's best-known grand hotels, establishing a long-running rivalry with the Palmer House and helping define the social and commercial character of the city's Gold Coast and Michigan Avenue districts. The hotel was developed by second-generation Chicago hoteliers Tracy Drake and John Drake Jr., who acquired the site from the estate of Potter Palmer in 1916. Financing came from a syndicate associated with prominent Chicago families, including the Palmers, Armours, Swifts, and McCormicks, as well as the hotel's architects, Benjamin Marshall and Charles Fox. The building, land, and furnishings represented an investment of approximately $10 million at the time. Marshall and Fox designed the property in an Italian Renaissance style, giving it a distinctive massing, formal detailing, and rooftop sign that remain important elements of the Gold Coast skyline. The Drake's location and design were central to its identity. Its Walton Place entrance provided a more private arrival than a frontage directly on busy Michigan Avenue, while its position connected the established residential Gold Coast with the increasingly commercial north end of Michigan Avenue. The hotel became a venue for political, commercial, and social activity, and it accommodated prominent public figures, entertainers, aristocrats, and long-term residents. It also has a place in Chicago broadcasting history: in 1924, the building served as the original studio location for radio station WGN after the station changed its name from WDAP. The property changed hands and operating arrangements over the decades. The Drake family lost the hotel during the Great Depression. Hilton International began operating it in 1980 under the Vista International Hotels brand and acquired the property outright in 1996. A major renovation carried out from 1998 to 2003 reportedly cost $45 million, followed by additional improvements in 2005 and 2006, including a fitness center, an executive conference center, and updated guest-room furnishings. Hilton Hotels Corporation's 2005 acquisition of Hilton International subsequently brought The Drake into the Hilton Hotels corporate portfolio. The present hotel has 535 guest rooms, including 74 suites, as well as a six-room Presidential Suite. Its facilities include restaurants, two large ballrooms, the Palm Court, and Club International, a members-only club introduced in the 1940s. The Palm Court is especially associated with afternoon tea, served in a formal white interior with live harp music on selected days and a house tea blend. The hotel also has street-level luxury retail tenants, including Chanel, Georg Jensen, and Van Cleef & Arpels, according to the referenced account. The Drake's brand rests on architectural heritage, formal hospitality, central Chicago location, event capacity, and associations with notable visitors and popular culture. It has appeared in or been used as a setting for films and television programs including Risky Business, My Best Friend's Wedding, Mission: Impossible, Carol, and Family Matters. Local stories also surround the property, including an unverified legend linking the Drake family's earlier history to the Great Chicago Fire and recurring ghost tales. These stories contribute to the hotel's cultural profile but are not established historical facts.

The history of Drake Hotel is closely tied to Chicago's development as a major commercial and social center. Tracy Drake and John Drake Jr., members of a second-generation hotel-owning family, acquired the future hotel site from the estate of Potter Palmer in 1916. Their financing syndicate included members of several powerful Chicago families, among them the Palmers, Armours, Swifts, and McCormicks, together with the project's architects, Benjamin Marshall and Charles Fox. The total investment in land, construction, and furnishings was approximately $10 million at the time. Marshall and Fox designed the hotel in an Italian Renaissance style. The completed building opened in 1920 at a strategically important location: it formed a transition between the established Gold Coast residential district and the newer commercial development along north Michigan Avenue. The main entrance on Walton Place offered a quieter and more accessible arrival point than a direct entrance on the busy avenue. Its scale, formal architecture, and rooftop sign made the hotel a prominent part of the neighborhood skyline. The Drake family intended the property to be a focus of Chicago's civic and social life. Along with the Blackstone Hotel at the opposite end of Michigan Avenue, the Drake was associated with the family's role in operating two of the city's most prominent hotels. During its early decades, the property hosted political, business, and social gatherings and attracted notable visitors from the United States and abroad. In 1924, it also became the original studio location of radio station WGN, which had recently changed its name from WDAP. The Great Depression brought financial difficulties, and the Drake family eventually lost the property. The hotel nevertheless remained an important Chicago address through the 1950s, 1960s, 1970s, and 1980s. Its prominence was reinforced by the continued growth of the Magnificent Mile and the transformation of nearby Oak Street into a luxury retail district. This placed the hotel between major shopping, residential, cultural, and lakeside destinations. Hilton International assumed operation in 1980 under its Vista International Hotels brand and bought the property outright in 1996. Between 1998 and 2003, the hotel underwent a reported $45 million renovation. Further work in 2005 and 2006 included a fitness center, an executive conference center, and new furnishings for guest rooms. Hilton Hotels Corporation acquired Hilton International in 2005, bringing The Drake into the Hilton Hotels corporate structure. The hotel is known for its 535 bedrooms, including 74 suites, a six-room Presidential Suite, restaurants, two large ballrooms, and the Palm Court. Club International, a members-only club introduced in the 1940s, is another part of the property's institutional history. The Palm Court's afternoon tea tradition is a major hospitality feature and has been associated with visiting royalty and other prominent guests. The Drake has also been used as a filming or setting location for numerous films and television programs, extending its identity beyond hotel operations into Chicago popular culture. Several stories associated with the property require qualification. A local legend claims that the founders' father, John Drake, acquired a hotel during the Great Chicago Fire after predicting a change in wind direction. The timing does not match the 1920 founding of the present Drake and the story may conflate the family with an earlier New Tremont House transaction. Ghost stories are also part of the hotel's folklore, but they are not verifiable historical events.

• 2006

  Guest and meeting facilities receive further investment

  [1]Drake Hotel (Chicago)en.wikipedia.org

  Additional work included a fitness center, an executive conference center, and updated guest-room furnishings.

• 2005

  The Drake becomes part of Hilton Hotels Corporation

  [1]Drake Hotel (Chicago)en.wikipedia.org

  Hilton Hotels Corporation acquired Hilton International, placing the hotel within the Hilton Hotels corporate family.

• 2003

  Major renovation completed

  [1]Drake Hotel (Chicago)en.wikipedia.org

  A renovation program that began in 1998 was completed after an investment reported at $45 million.

• 1996

  Hilton International purchases the property

  [1]Drake Hotel (Chicago)en.wikipedia.org

  Hilton International moved from operating the hotel to owning it outright.

• 1980

  Hilton International takes over operations

  [1]Drake Hotel (Chicago)en.wikipedia.org

  Hilton International began managing the property through its Vista International Hotels brand.

• 1940

  Club International is introduced

  [1]Drake Hotel (Chicago)en.wikipedia.org

  The hotel introduced Club International as a members-only club during the 1940s.

• 1924

  WGN uses the hotel as its original studio

  [1]Drake Hotel (Chicago)en.wikipedia.org

  The building served as the original studio location of WGN after the radio station changed its name from WDAP.

• 1920

  The Drake opens

  [1]Drake Hotel (Chicago)en.wikipedia.org

  The Italian Renaissance-style hotel opened at Walton Place beside Michigan Avenue and Lake Michigan.

• 1916

  Drake family acquires the hotel site

  [1]Drake Hotel (Chicago)en.wikipedia.org

  Tracy Drake and John Drake Jr. acquired property from the estate of Potter Palmer for development of a major hotel.

Historic upper-upscale to luxury urban hotel combining landmark architecture, formal service, event facilities, heritage hospitality, and a prominent Gold Coast location.

• Hotel accommodation · 1920

  Guest rooms

  The hotel provides 535 bedrooms, including 74 suites, in a historic full-service property overlooking or near Lake Michigan and the Magnificent Mile. The accommodation offer is built around traditional luxury-hotel service, central access to Chicago attractions, and the architectural character of the landmark building.

• Luxury suite

  Presidential Suite

  The six-room Presidential Suite is the hotel's signature residential-style accommodation. It represents the property's historic emphasis on dignitary, celebrity, and long-stay hospitality, although detailed current specifications are not established in the supplied sources.

• Food and beverage experience

  Palm Court afternoon tea

  Afternoon tea is served in the Palm Court, a secluded, club-like lobby space decorated in white. The experience includes a house Palm Court blend combining Indian Assam, Chinese Keemun, Ceylon, and Formosa Oolong teas, with live harp music reported from Wednesday through Sunday. The tradition is associated with prominent visitors including Queen Elizabeth II, Princess Diana, and the Empress of Japan.

• Meetings and events · 1920

  Ballrooms and event venues

  Two large ballrooms and other event spaces support weddings, banquets, receptions, corporate functions, and civic or social gatherings. Their role continues the hotel's long-standing position as a venue for Chicago's formal social and business life.

• Members-only club · 1940

  Club International

  Club International is a members-only club introduced at the hotel during the 1940s. It forms part of The Drake's historic private-club and social-hosting identity; current membership terms and operating details are not specified in the supplied sources.

• 2005

  Further guest and conference upgradesStrategy

  Background

  The property continued to require investment to compete as a full-service luxury hotel in Chicago's increasingly developed Magnificent Mile market.

  Action taken

  Owners added a fitness center, an executive conference center, and new furnishings in guest rooms during 2005 and 2006.

  Aftermath

  The upgrades expanded the hotel's leisure, business, and meetings offering while maintaining its historic positioning.

  Reported additional investment. $15 million (2005-2006)

  Source

• 1998

  Multi-year property renovationStrategy

  Background

  A historic luxury hotel needed modernization while preserving its architectural and hospitality heritage.

  Action taken

  The owners undertook a renovation program running from 1998 to 2003.

  Aftermath

  The renovated property continued operating as a landmark full-service hotel with guest rooms, suites, restaurants, ballrooms, and heritage spaces.

  Reported renovation investment. $45 million (1998-2003)

  Source

• 1996

  Hilton International acquisitionM&A

  Background

  Hilton International had operated The Drake since 1980 and subsequently pursued ownership of the property.

  Action taken

  Hilton International purchased the hotel outright.

  Aftermath

  The Drake remained within Hilton's portfolio and was later incorporated into Hilton Hotels Corporation following the 2005 acquisition of Hilton International.

  Source

• 1980

  Move to Hilton International operationStrategy

  Background

  The historic independent hotel required a major international operating platform while retaining its established Chicago identity.

  Action taken

  Hilton International assumed operation through its Vista International Hotels brand.

  Aftermath

  Hilton later acquired the property outright in 1996, beginning its long-term corporate ownership relationship with the hotel.

  Source

1. 1Drake Hotel (Chicago)en.wikipedia.org
2. 2The Drake Chicago official websitethedrakehotel.com