Waterton acquires 496-unit Alta Roosevelt apartment community in Chicago

Waterton has acquired the 496-unit Alta Roosevelt Apartments at 801 S. Financial Place in Chicago.

The seller was Wood Partners. The sales price was estimated to be $170 million.

Situated in the South Loop and minutes from well-known economic drivers in Chicago such as the rapidly growing West Loop and the lakefront, the acquisition of Alta Roosevelt brings Waterton’s total unit count in the metro area to more than 6,700 units.

“The opportunity to acquire such a high quality and well amenitized asset below replacement cost, combined with the strong leasing momentum at the property made Alta Roosevelt an attractive addition to our portfolio,” said Julie Heigel, senior vice president, acquisitions at Waterton.

Built in 2017, Alta Roosevelt is within steps of two of Chicago’s largest employment nodes: the central business district (the Loop) and the rapidly growing West Loop. The location offers convenient access to multiple transportation options, i