The 60 story hotel was designed by Chicago architect Lucien Lagrange and was developed by David Pisor.

Its design emulates the grand hotels of Paris in the 1920s, complete with colonnades, spires, and a motor court.

[2] By November 2011, it was announced that an investment group and Hilton Hotels would be purchasing the Elysian and converting it to a Waldorf Astoria.

A Waldorf Astoria had been planned as part of an international expansion in 2007, but failed to take off due to the economy in 2008.

[6] The Waldorf Astoria Chicago is located in the Gold Coast, a district that is listed on the National Register of Historic Places.