David Schwartz Of Waterton Acquires Flair Tower Multifamily Property In Chicago For $85M

The 197-unit, 26-story Flair Tower is located at 222 West Erie Street in Chicago. The multifamily asset was acquired for $85 million, reflecting a price per unit of $431,472. At the time of the sale, the property was approximately 97% leased, contributing to its appeal in the competitive market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $85,000,000
• Units: 197
• Price Per Unit: $431,472
• Buyer: David Schwartz - Waterton
• Seller: Gregory Bates - GID Investment Advisors
• Date of Transaction: 03/11/2026
• Market: Chicago

David Schwartz represented Waterton in the acquisition, while Gregory Bates represented GID Investment Advisors as the seller. This transaction stands out as one of the largest multifamily deals in Chicago during early 2026.