Paraprin Capital is pleased to announced that USCIS has started approving I-829 applications for EB-5 investors in our Chicago-Rockford Hilton Embassy Suites EB-5 Project. 

The Rockford Embassy Suites Hotel and Conference Center in Rockford, Illinois, is a remarkable transformation of the former Amerock factory into an $87.5 million, four-star Hilton Embassy Suites and Conference Center. The project features spectacular views of the Rock River and downtown Rockford. The 160-room hotel and conference center includes multiple restaurants, a two-story spa, lounges, a game room, a pool, and offers the finest vantage point in the city. It is a key part of the downtown Rockford revitalization effort, aiming to bring 24-hour activity to the area and attracting thousands of visitors.

The project required careful preservation of the historic character of the former factory, a requirement for the use of historic tax credits. This includes maintaining the original industrial style of the building’s windows and the original steel cage around a future freight elevator. The construction also involved building a 40,000-square-foot conference center.

The hotel’s average room rate is about $158 per night, varying depending on demand, the season, and concurrent events. The hotel, positioned as a luxury property, aims to impress guests with its top-shelf amenities and services​¹​.

Paraprin Capital worked with a total of 60 EB-5 investors from all over the world who provided a key part of the financing for the project, in addition to financing from Citibank and a subsidiary of Berkshire Hathaway. We are grateful for the trust that investors put in us and the developer, Gorman & Company, to execute successfully on this transformative EB-5 project.