Andy Gloor Of Sterling Bay And Gabe L. Finke Of Ascentris Secure $93.5M Refinance For Multifamily Tower

The Elizabeth is a 350-unit multifamily tower situated at 225 North Elizabeth Street in Chicago’s Fulton Market. The property is a 28-story, Class A building, completed in 2024, which includes 10,000 square feet of retail space. Recently, it has had a refinancing transaction amounting to $93.5 million, reflecting the strong demand for high-quality multifamily assets in the local submarket.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $93,500,000
• Address: 225 North Elizabeth Street
• Market: Chicago, IL
• Units: 350
• Loan Type: Refinance
• Landlord: Andy Gloor - Sterling Bay
• Landlord: Gabe L. Finke - Ascentris
• Brokers: William Barry & Bill Stewart - Draper & Kramer

Draper and Kramer’s Commercial Finance Group was responsible for arranging the $93.5 million refinance for The Elizabeth. This transaction highlights the involvement of experienced brokers William Barry and Bill Stewart, who facilitated the deal on behalf of the landlords, Sterling Bay and Ascentris.