Alta Roosevelt – Luxury Apartment Building Is For Sale

LUXURY HIGH RISE BUILDING IN LOOP FOR SALE – 801 S Financial Pl.

A few months after leasing up a new 34-story apartment project in the South Loop, an Atlanta developer has put the tower up for sale.

Wood Partners has hired Chicago brokerage to sell Alta Roosevelt, a 496-unit high-rise about a block east of the Chicago River’s South Branch. Completed in 2017, the building at 801 S. Financial Place is 98 percent leased, according to a Moran brochure.

With ebullient investors willing to pay lofty prices for apartment buildings, multifamily developers have made a fortune selling new Chicago projects shortly after completing them. Downtown rents keep rising amid strong demand, assuaging investor concerns about overbuilding and making it a great time to be a seller over the past few years.

Asking rents at Alta Roosevelt range from $1,795 per month for a studio apartment to $4,873 for a three-bedroom unit, according to real estate information provider CoStar Group. Read More Here From Chicago Business…

INTERESTED IN PURCHASING AND INVESTING AT ALTA ROOSEVELT? CONTACT Ebonie Caldwell Realty Portfolio Luxury at 312-999-0LUX | 312-999-0589 or email us here.

 

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