This chapter provides a brief summary of the professional life and work of William C. Wheaton, who has for over 50 years been a faculty member of the MIT Economics Department and Department of Urban Studies and Planning. Wheaton is considered a “founding father” of the subbranch of economics known as real estate and urban economics. He has made foundational theoretical contributions to the field, and also highly influential empirical and practical contributions. His teaching and consulting contributions have helped to revolutionise the practice of the real estate investment industry worldwide. He developed the economics core of MIT’s pioneering master’s degree in real estate development, and served as an instrumental director of MIT’s Center for Real Estate. His highly influential textbook, with Denise DiPasquale, first published in 1996, Urban Economics and Real Estate Markets, systematised the knowledge corpus of real estate economics.