 Female guests also had access to an outdoor loggia overlooking Michigan Avenue, which was decorated with the intention of evoking a Venetian terrace.The club filed for bankruptcy in 1934, and following a lengthy battle, in 1944 the building was sold to developer John J. Mack, who converted it to a 650-room hotel at a cost of $1 million, renaming it the Hotel Continental.Esther Williams swam in the pool in the building's athletic club, renamed the Town Club of Chicago.