Chicago salon owner developing a mixed-use boutique hotel project "Lincoln Yards"

Chicago salon owner developing a mixed-use boutique hotel project "Lincoln Yards"

New to Real Estate · 60618 · Member since 2026 · 1 post · 1 vote

Hi BP community,

I'm Whitney, a Chicago-based business owner and first-time commercial developer.

I've spent the last 8 years as a hairstylist and salon owner, currently operating Cutting Club Chicago across two locations in River North and Avondale. Building and running a service business across two leases has meant living inside occupancy costs, lease negotiations, pricing models, and cash flow everyday. My operator experience is the foundation for what I'm working on now.

I'm currently developing Logandale Collective, a mixed-use boutique hospitality project targeting an adaptive reuse property in Chicago's Elston Corridor, previously known as Lincoln Yards. The concept brings together a café/bar, a flexible event space designed for micro-weddings and private events, an 8-11 room bed & breakfast under Chicago's owner-occupancy license, and my existing salon business relocated on-site, with me living at and operating the property myself. It's an owner-operated hospitality property anchored by an established business, not a passive asset.

The project is in active development: entity formed, detailed pro forma built across all revenue verticals, specific properties evaluated, and direct engagement underway with the City of Chicago's Department of Planning and Development on TIF-district grant programs.

The design vision is warm, vintage, and European-eclectic, dark wood, amber light, checkered floors, inspired by the boutique hospitality groups doing this well in Chicago.

I'm here to learn from people with experience in hospitality real estate, adaptive reuse, and mixed-use development, and I'm always happy to trade notes on navigating Chicago's commercial development grant and TIF programs, I've gone deep on that process.

For those who've done adaptive reuse or hospitality in Chicago, what do you wish you'd known before your first commercial project?

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  • Lender · Lake City, MI · Member since 2019 · 118 posts · 42 votes
    1mo

    Really cool project, Whitney. Coming from the operating side of the business is a big advantage, especially with a project that has multiple revenue streams.

    One thing I’ve seen with projects like this is that the financing strategy needs to be thought through pretty early. Acquisition, renovation, construction draws, carrying costs, and then the transition to permanent financing can all impact the deal quite a bit.

    I'm a mortgage/real estate finance guy and work with investors and owner-operators on commercial, DSCR, and more creative financing structures. I'd be happy to take a look at what you're putting together and see if there are financing options that could make sense as you move from the development stage toward acquisition.

    Even if you already have financing conversations going, sometimes it’s helpful to have another set of eyes on the capital stack and make sure the financing lines up with the business plan.

    Either way, really interesting concept. I’d be curious to follow the project as it develops.

  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 155 posts · 43 votes
    1mo

    @Whitney Welch 

    This is an exciting project! The combination of an established business, hospitality, and adaptive reuse makes for a really interesting development.

    I’d love to connect. I help investors and developers explore lending and financing options for projects like this. If you’re looking at financing as you move toward acquisition and construction, feel free to reach out. Happy to be a resource!

  • Lender · Washington DC · Member since 2026 · 67 posts · 17 votes
    3w

    Whitney, this is an interesting project, especially with the existing business and the multiple revenue streams you’re planning to bring together. I’d be interested in learning more about the project and exploring financing options with you. If you’re open to it, I’d be happy to connect privately, review the numbers and development plan, and see if there’s a financing structure that could make sense for the acquisition and buildout. Feel free to DM me.

  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 479 posts · 174 votes
    2d
    Quote from @Whitney Welch:

    Hi BP community,

    I'm Whitney, a Chicago-based business owner and first-time commercial developer.

    I've spent the last 8 years as a hairstylist and salon owner, currently operating Cutting Club Chicago across two locations in River North and Avondale. Building and running a service business across two leases has meant living inside occupancy costs, lease negotiations, pricing models, and cash flow everyday. My operator experience is the foundation for what I'm working on now.

    I'm currently developing Logandale Collective, a mixed-use boutique hospitality project targeting an adaptive reuse property in Chicago's Elston Corridor, previously known as Lincoln Yards. The concept brings together a café/bar, a flexible event space designed for micro-weddings and private events, an 8-11 room bed & breakfast under Chicago's owner-occupancy license, and my existing salon business relocated on-site, with me living at and operating the property myself. It's an owner-operated hospitality property anchored by an established business, not a passive asset.

    The project is in active development: entity formed, detailed pro forma built across all revenue verticals, specific properties evaluated, and direct engagement underway with the City of Chicago's Department of Planning and Development on TIF-district grant programs.

    The design vision is warm, vintage, and European-eclectic, dark wood, amber light, checkered floors, inspired by the boutique hospitality groups doing this well in Chicago.

    I'm here to learn from people with experience in hospitality real estate, adaptive reuse, and mixed-use development, and I'm always happy to trade notes on navigating Chicago's commercial development grant and TIF programs, I've gone deep on that process.

    For those who've done adaptive reuse or hospitality in Chicago, what do you wish you'd known before your first commercial project?

    @Whitney Welch, with everything you’re bringing together under one roof, one thing I’d want clear early is how all of those pieces work together legally, not just financially. You have the property, your existing salon, hospitality, events, food and beverage, and your own residence all tied into the same project. I’d want to understand what belongs to which business, who is responsible for what, and what happens if one part of the plan changes.

    I’ve worked with business owners and real estate investors where a project started with a great concept, but the legal structure became more complicated as more pieces were added. Getting the ownership, contracts, property due diligence, and business relationships organized early can make a big difference when the project starts moving quickly.

    This is a really interesting concept, @Whitney Welch, and I like that you’re approaching it as an operator rather than treating the property as a passive investment. I’m a real estate and business attorney, broker, and investor in Maryland, so projects where the business and the real estate are closely connected always catch my attention. Happy to stay connected and follow along as Logandale Collective develops.

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