CHICAGO — Waterton has acquired The Mason, a 263-unit high-rise in Chicago’s Fulton Market district. According to CoStar, the asset traded for approximately $90 million, and the seller was a joint venture between Marquette Cos. and an affiliate of Deutsche Bank, which developed the property in 2019.
Floorplans at The Mason include studios and one-, two- and three-bedroom apartments. Waterton plans to implement a light value-add program, which will include flooring upgrades in the units and enhancements to common areas and amenity spaces.
The property features a pool, a fitness center, coworking space, a dog run and a rooftop deck with grilling stations, seating and skyline views. The Mason’s design theme reflects the history of Chicago’s Fulton Market with brick accents and an aesthetic inspired by the architectural history of the neighborhood. In the 19th and 20th centuries, the Fulton Market area, in the Near West Side of the city, was home to meat-packing and other industrial businesses.