The Pump Room in its heyday. (courtesy www.pumproom.com)

Ian Schrager is coming to Chicago. Crain’s reports that the hotelier, known for his high design boutique properties, is looking to buy and renovate the Ambassador East and it’s famous restaurant, the Pump Room.

The Gold Coast hotel was built in 1926 has 285 rooms. The restaurant was a hangout for actors and musicians passing through Chicago and is mentioned in songs by Judy Garland and Phil Collins, who titled his album “No Jacket Required” after the Pump Room’s dress code.

Perhaps Schrager will hire Peter Zumthor to redesign the hotel.