Chicago, Illinois
Chicago Navy Pier Centennial Vision Redevelopment; Sable Hotel Developer Solicitation Process
Navy Pier, Inc., hired Hunden Partners to project the new tax impacts on its renovation and expansion. Hunden also was engaged to conduct the developer solicitation and selection process for the new Sable Hotel. By reviewing the developer’s Request for Qualification and Request for Proposal documents, Hunden demonstrated its expertise on a critical element of a facility’s upgrade.
Situation
Hunden Partners assisted Navy Pier Inc., with their renovation and expansion, including deal development and developer selection for the new Sable hotel. Hunden analyzed the expansion plan, conducted a public-sector risk analysis, and projected the future results of all revenue streams, which included:
- Tour Boats
- Restaurants, Retail, Kiosks and Carts, Attractions and Pier Park Rides
- Advertising and Sponsorships
- Festival Convention Hall Events, Ballroom Food and Beverage
- Special Events and Entertainment; Nightlife District
- New Boutique Hotel
Approach
Hunden projected the new tax impacts of the project on the City, County, and State. Hunden then conducted the hotel developer selection process. This process included the creation of the developer’s RFQ/P documents, management, and promotion of the opportunity. Hunden reviewed the submittals and conducted interviews, management of the shortlisted firms, evaluations and rankings, and negotiations with the top firm.
Impact
Prior to joining Hunden Partners, Executive Vice President Steve Haemmerle served as the Executive President of Navy Pier, Inc. for eight years, and was responsible for leading the Pier’s comprehensive Centennial Vision redevelopment. Additionally, Steve negotiated agreements with the architects, consultants, and contractors for the Centennial Vision project, as well as leases with Chicago Children’s Museum and Chicago Shakespeare Theater, that allowed them both to expand their presence at the Pier.
In 2020, the hotel was financed, built, and opened as “Sable at Navy Pier”. The hotel includes 223 rooms within a seven-story structure constructed directly on the pier at a cost of approximately $100 million, making it the first hotel built over Lake Michigan. In 2025, Navy Pier has advanced planning to redevelop key east-end facilities and expand event space. The Pier also progressed marina improvements and new dining and retail activations to support year-round visitation.
