Lincoln Yards (development)

Coordinates: 41°54′58″N 87°39′34″W / 41.916214°N 87.659574°W / 41.916214; -87.659574

Lincoln Yards
Companies
Architect Skidmore, Owings & Merrill
Developer Sterling Bay
Technical details
Cost US$5 billion

Lincoln Yards is a proposed mixed-use development project located on the North Side of Chicago between the Lincoln Park and Bucktown communities. If built as planned, it will include apartments, condos, office, retail, entertainment and a soccer stadium split across two lots.

History

A. Finkl & Sons Steel operated a mill along a roughly 22-acre lot along the eastern portion of the Chicago River in the Lincoln Park neighborhood from 1902 until it was demolished in 2012.[1] The Lincoln Park location was Chicago's oldest steel mill.[2] In 2006, it bought the site of the former Verson Steel on Chicago's South Side.[3] It was purchased by a German company in 2008, and has since operated from that location.[4] Since the demolition, there have been various proposals to connect the site to the Bloomingdale Trail.[5][6][7]

In 2016, real estate developer Sterling Bay purchased the Lincoln Park site for a sum believed to be over $100 million[8] and renamed the site "Lincoln Yards".[9] The developer released plans designed by Chicago-based architectural firm Skidmore, Owings, and Merrill in July 2018.[10] In exchange for an increase in density to allow for the substantial construction, Sterling Bay is to pay an $89 million fee and will make infrastructure improvements in the neighborhood to ease the increase in traffic.[10] Sterling Bay estimates construction will take up to a decade.[11]

Potential tenants

The development is one of ten proposed locations that may host the second headquarters of Amazon if the company chooses Chicago.[12][13] Amazon representatives toured the site in 2017.[14]

References

  1. ↑ "Sterling Bay completes deal for massive Finkl Steel site". Crain's Chicago Business. Retrieved 2017-03-15.
  2. ↑ "Manufacturing Consent: Chicago's Oldest Steel Mill Will Soon Be Demolished. What Will Replace It When It's Gone? - Belt Magazine | Dispatches From The Rust Belt". Belt Magazine | Dispatches From The Rust Belt. 2015-01-20. Retrieved 2017-04-21.
  3. ↑ "A. Finkl & Sons buys Verson Steel's South Side site". Crain's Chicago Business. Retrieved 2017-03-15.
  4. ↑ "Finding Finkl's Future". Chicago Tonight | WTTW. Retrieved 2017-03-15.
  5. ↑ "Alderman's Plan to Extend 606 Trail Faces Numerous Challenges". Chicago Tonight | WTTW. Retrieved 2017-04-21.
  6. ↑ "Developer Buys Finkl Steel Site As Hope To Expand The 606 Takes Root". Chicagoist. Retrieved 2017-04-21.
  7. ↑ Ori, Ryan. "From warehouse to penthouse: Finkl site, industrial corridor ready for makeover". chicagotribune.com. Retrieved 2017-04-21.
  8. ↑ "Sterling Bay completes deal for massive Finkl Steel site". Crain's Chicago Business. Retrieved 2017-04-21.
  9. ↑ "Sterling Bay Woos Amazon HQ With Renamed Finkl Steel Site — Lincoln Yards". DNAinfo Chicago. Retrieved 2017-11-12.
  10. 1 2 Kamin, Blair (22 July 2018). "Lincoln Yards plan: Bold, ambitious and not yet a good neighbor". Chicago Tribune. Retrieved 24 July 2018.
  11. ↑ Koziard, Jay (22 July 2018). "How the $5B Lincoln Yards megaproject will transform Chicago's North Branch". Curbed. Retrieved 24 July 2018.
  12. ↑ "Developers showcase $5 billion Lincoln Yards project along Chicago River". Retrieved July 18, 2018.
  13. ↑ "How the $5B Lincoln Yards megaproject will transform Chicago's North Branch". Retrieved July 19, 2018.
  14. ↑ "SNEED EXCLUSIVE: Amazon reps visit old Finkl Steel site on North Side". Chicago Sun-Times. 2017-11-20. Retrieved 2017-11-26.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.