SOURCE: Waterton Residential

Waterton Residential

June 06, 2012 09:00 ET

Waterton Residential Acquires the Seneca Hotel

Chicago Hotel to Be Restored to a Luxury Apartment Community

CHICAGO, IL--(Marketwire - Jun 6, 2012) - Waterton Residential, a leader in the multi-family industry, announces it has acquired Chicago's Seneca Hotel. Located just one block from Michigan Avenue's Magnificent Mile shopping district and minutes from the lakefront, the hotel will be restored to a select apartment community; apartments are currently available to rent, with renovated apartments available for mid-June occupancy. Waterton Residential, a subsidiary of Waterton Associates LLC, currently owns 17,000 apartments in 47 communities within 13 states, of which 11 communities are in the Chicagoland area.

The newly restored boutique rental residences, comprised of 260 units with 10 two bedrooms, 159 one bedrooms and 91 studios, are situated in Chicago's exclusive Gold Coast neighborhood. Just steps to the lakefront and the city's best shopping, including The 900 Shops, Water Tower Place and the Shops at North Bridge, The Seneca will uphold Waterton Residential's standards of offering exceptional service with on-site service and management, including 24-hour door attendants. Upgraded apartment homes will include wood finish vinyl flooring, updated kitchens with clean steel appliances, refinished baths and custom window treatments. Amenities will include on-site dry cleaning, a new fitness center and sundeck. Residents can dine at on-site restaurants, such as Francesca's Restaurant, Davanti Enoteca, Saloon Steakhouse and Chesnut Street Cafe. The Seneca is also located near popular Chicago restaurants, including Spiaggia, Coco Pazzo Café and Rosebud Steakhouse.

"We're very excited to have acquired such a unique property in this exceptional Gold Coast location," said Lela Cirjakovic, senior vice president of operations for Waterton Residential. "As we restore the building, we plan to keep some of the vintage charm while making smart, contemporary updates to suit Chicago's sophisticated residents. The same alluring neighborhood details that attracted Waterton to the property are sure to attract renters."

Waterton Residential is committed to delivering exceptional living experiences by providing unique living communities residents will be proud to call home. All residents are able to choose from flexible lease terms and have access to its convenient online portal, which allows renters to make payments online, place a service request, access utility connection services and more.

For more information about Waterton Residential or to review additional communities, visit

Waterton Residential, one of the leading multifamily companies in the nation, is focused on the acquisition and management of apartment communities in multiple markets. Since its inception in 1998, the Waterton Residential team has remained committed to outstanding customer service by providing a community residents are proud to call home. With more than 16,000 apartment homes in 44 communities in 12 states, the Waterton Residential brand signifies exceptional living experiences, a sense of community and home. Waterton employs approximately 480 associates who are committed to achieving the Waterton Residential vision. For more information about Waterton Residential, visit

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