Peel the russet potatoes and cut them into 3/8-inch cubes. Place the potato cubes in a bowl of cold water and let them soak for about 5 minutes to remove excess starch.

In a large soup pot, melt the butter over medium heat. Add the diced white onion and sauté until translucent, about 5 minutes.

Sprinkle the all-purpose flour over the sautéed onions. Stir continuously for about 1 minute to form a roux, which will thicken the soup.

Gradually pour in the chicken broth and water, stirring constantly to avoid lumps. Bring the mixture to a gentle boil.

Drain the soaked potatoes and add them to the pot. Reduce the heat to a simmer and cook until the potatoes are tender, about 20 minutes.

For a creamier texture, use a potato masher or immersion blender to partially mash the potatoes in the pot. If you prefer a chunkier soup, skip this step.

Stir in the heavy cream, salt, and ground black pepper. Let the soup simmer for an additional 5 minutes to heat through.

Ladle the soup into bowls and garnish with shredded cheddar cheese, bacon bits, and chopped chives. Serve hot and enjoy!