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River City Apartments 800 S Wells St 448 Unit Apartment Building For Sale Chicago, IL 60607
Investment Highlights
- Iconic architecture by Bertrand Goldberg; unique riverfront setting.
- Enhanced by The 78 megadevelopment, which boosts long-term appreciation and transit connectivity.
- Units feature high-end finishes: quartz counters, stainless steel appliances, LVT flooring, Spanish tile baths, walk-in closets.
- Strong submarket fundamentals: South Loop rent growth 5.2-5.4% YoY; 0.75% new supply ratio. Ranked as the #2 major U.S. metro for rent growth.
- Comprehensive community amenities: rooftop skyline park, 15th-floor sundeck, health club, 70-slip private marina, coworking space, fitness center, and
Executive Summary
River City offers a rare value-add multifamily investment in Chicago’s South Loop along the Chicago River. Designed by iconic architect Bertrand Goldberg, the asset consists of 449 market-rate units and recently underwent a $60 million renovation, including unit upgrades, a reimagined lobby, and added amenities. It now features 95.8% occupancy, diversified unit types (studios to 4-bedrooms), and luxury amenities.
The property sits steps from The 78, a $7 billion mixed-use megadevelopment with anticipated major additions such as the Chicago Fire FC Stadium, office, retail, and a new CTA Red Line station. It is near the Loop, Grant Park, Lake Michigan, Illinois Medical District, and major highways (I-90/94, I-55).
The property sits steps from The 78, a $7 billion mixed-use megadevelopment with anticipated major additions such as the Chicago Fire FC Stadium, office, retail, and a new CTA Red Line station. It is near the Loop, Grant Park, Lake Michigan, Illinois Medical District, and major highways (I-90/94, I-55).
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 448 | Lot Size | 3.57 AC |
| Property Type | Multifamily | Building Size | 728,610 SF |
| Property Subtype | Apartment | No. Stories | 17 |
| Apartment Style | Hi-Rise | Year Built | 1986 |
| Zoning | PD 225 | ||
| Sale Type | Investment |
| No. Units | 448 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | B |
| Lot Size | 3.57 AC |
| Building Size | 728,610 SF |
| No. Stories | 17 |
| Year Built | 1986 |
| Zoning | PD 225 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Bay Window
- Ceiling Fans
- Tub/Shower
- Views
- Walk-In Closets
- Carpet
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Waterfront
- Doorman
- Package Service
- Wi-Fi
- Bicycle Storage
- Maintenance on site
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 69 | - | 567 - 653 |
| 1+1 | 272 | - | 653 - 746 |
| 2+2 | 41 | - | 990 |
| 2+2.5 | 19 | - | 1,298 - 1,560 |
| 3+2.5 | 41 | - | 1,509 - 1,560 |
| 3+3.5 | 3 | - | 1,994 |
| 4+3.5 | 3 | - | 2,213 |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $9,146,524 CAD | |
| Land Assessment | $658,801 CAD | Total Assessment | $9,805,325 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$658,801 CAD
Improvements Assessment
$9,146,524 CAD
Total Assessment
$9,805,325 CAD
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River City Apartments | 800 S Wells St
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