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CHICAGO — Chicago-based developer Sterling Bay has formed a joint venture with Ascentris, a Denver-based real estate private equity firm, for the development of 160 N Morgan, a 29-story apartment tower in Chicago’s Fulton Market. The project received approval from city council in October. The development will house 254 market-rate units, 28 affordable units, 89 parking spaces and 2,600 square feet of ground-floor retail space. Amenities will include an outdoor deck, fitness center and rooftop pool.
The architecture firm is bKL Architecture. Construction is expected to begin this quarter, with completion slated for the fourth quarter of 2023. The project is Sterling Bay’s first-ever residential development in Fulton Market.