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Sterling Bay’s Fulton Market Residential Closes on Construction Financing
Sterling Bay has closed on approximately $92 million in construction financing for 225 N Elizabeth, a new multifamily development in Chicago’s Fulton Market District. The building, which broke ground earlier this week, will feature 350 residential units, 20 percent of which will be made available as affordable housing.
“Fulton Market is one of the nation’s preeminent submarkets and Sterling Bay is incredibly excited to continue facilitating growth in this vibrant neighborhood,” said Andy Gloor, CEO of Sterling Bay.
225 N Elizabeth will be developed in partnership with Ascentris, a Denver-based private equity firm. In addition to residential units, the 28-story property will feature roughly 9,000 square feet of retail, 95 parking spaces and extensive indoor and outdoor amenities on the third and top floors of the building. The new development adds to Sterling Bay’s rapidly growing portfolio of office, retail, and residential developments in Fulton Market.
- ◦Development
- ◦Financing


