Waterton buys and renames another downtown Chicago high-rise apartment building

Waterton, a Chicago-based multifamily investor, has purchased and renamed another high-rise apartment building in Downtown Chicago.

The company acquired the 346-unit Alta Grand Central in the South Loop and renamed it The Grand Central.

Financial terms of the deal were not disclosed.

The move comes a year after Waterton acquired the 496-unit Alta Roosevelt Apartments and renamed it The Elle.

Alta Grand Central

Alta Grand Central has been renamed The Grand Central by its new owner, Chicago-based Waterton.

By George Shubin

“Well-appointed assets like Alta Grand Central and The Elle, our asset located just a few blocks away, are attracting renters seeking an upscale rental experience with the relative affordability of the South Loop neighborhood,” said Julie Heigel, senior vice president of acquisitions for Waterton, in a statement.

She said amenities at The Grand Central include coworking spaces, an indoor-outdoor rooftop lounge, a yoga studio, bike storage and electric car-charging stations.

“This [was] a compelling opportunity to acquire a newer vintage property at an attractive basis,” she said.


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