Sterling Bay, Ascentris team up again in Fulton Market

Andy Gloor’s Sterling Bay is moving another Fulton Market mixed-use development forward. The firm sold the vacant land at 1245 West Fulton Market Street and 225 North Elizabeth Street to an LLC that shares an address with Denver-based Ascentris for nearly $15 million, public records show.

In 2013, Sterling Bay bought the parcels that make up the entire empty corner of Fulton Market and Elizabeth in two deals struck for about $4.6 million total. This latest deal underscores the neighborhood’s explosion of property values over the past decade as Fulton Market has become Chicago’s hottest office district.

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