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South Loop Apartment Tower Goes Back on the Market
Wood Partners has hired the Chicago office of JLL to sell Alta Roosevelt, a 496-unit rental high-rise at 801 S. Financial Pl. in the South Loop, Crain’s Chicago Business reported. Atlanta-based Wood completed construction of the building in 2017 and put it up for sale in mid-2019, but the property never sold.
The Alta Roosevelt listing could offer some signals about the market, boosting confidence for brokers and landlords if it fetches a high price. It’s unclear how much Wood is seeking for the property, which is being sold without an asking price. Just three downtown properties sold for more than $100 million in 2021.
Alta Roosevelt is a high-end building with luxury amenities, although it’s more affordable than properties closer to the CBD, where rents can exceed $4 per square foot per month. The building is 95% occupied, according to CoStar Group.
- ◦Sale/Acquisition
