Draper and Kramer, Incorporated announced that a team led by Bill Barry and Bill Stewart, both senior vice presidents with the firm’s Commercial Finance Group, closed a $93.5 million refinance loan on behalf of Sterling Bay and Ascentris for The Elizabeth, a 28-story multifamily tower at 225 N. Elizabeth St. in Chicago’s Fulton Market.
Completed in 2024, the property includes 350 rental apartments and 10,000 square feet of street-level retail space.
Stewart noted the refinance for The Elizabeth is one of several deals Draper and Kramer’s CFG has closed in Fulton Market during 2026. This summer, the firm also brokered the $101.8 million construction loan for 410 N. Elizabeth St., Chicago’s first geothermal, all-electric multifamily high-rise being developed by Tree Street Group, Magellan Development Group and Mark Goodman & Associates. Both The Elizabeth and 410 N. Elizabeth St. come on the heels of more than $215 million in additional Class A multifamily deals arranged by Barry and Stewart in Fulton Market earlier this year.
