CHICAGO — Sterling Bay has received $81.8 million in financing to begin construction of 160 N Morgan, a new apartment tower in Chicago’s Fulton Market district. Developed in partnership with Ascentris, the project will feature 282 units and 2,600 square feet of ground-floor retail space. CIBC Bank USA provided the financing. Walsh Group will oversee construction alongside joint venture partner and certified minority-owned business BOWA Construction. Local firm bKL Architecture will serve as lead architect. A timeline for completion was not provided. As part of its development-related commitment to provide affordable housing, Sterling Bay will contribute nearly $6 million to fund the construction of 28 affordable housing units at SL Solar Lofts, a residential project on Chicago’s South Side.
Sterling Bay Receives $81.8M in Financing for Construction of Apartment Tower in Chicago’s Fulton Market