Oxford Capital Group, LLC with Angelo, Gordon & Co. have acquired the landmark London Accident & Guarantee Building designed by famed architect Alfred S. Alschuler at 360 N. Michigan Avenue in Chicago along with an adjacent parcel of land at 77 East Wacker Drive. The plan is to convert the properties into a new lifestyle hotel above two stories of upscale retail.

Four hotels, two apartment towers and new retail space are in the works, projects that will bring more out-of-towners, residents and stores and bridge the gap between the Magnificent Mile shopping district north of the river and the park and cultural attractions to the south.