Struggling Sonder Ditching Hotel in Chicago’s River North

Sonder is bailing on Ross Walker in Chicago.

A struggling short-term rentals firm, Sonder is backing out of its lease for the 60-room hotel at 613 North Wells Street, which is owned by Walker’s firm, Beverly Hills, California-based Hawkins Way Capital.

Sonder told The Real Deal it plans to vacate the property, known as the Found Hotel, after Hawkins Way sued the hotel operator accusing it of failing to pay nearly $200,000 in rent for missing monthly payments in January and February.

Along with back rent, the lawsuit seeks a judgement against Sonder for nearly $4 million, to account for the remaining term of Sonder’s five-year lease, running through 2028.

The contentious exit marks one of many lease renegotiations Sonder has taken up with landlords across the world as it works to consolidate its real estate costs while its stock price flounders — it’s down 98 percent since its February 2022 debut on the Nasdaq exchange and has had to perform financial gymnastics to avoid being…