Lincoln Yards (development)

Lincoln Yards will occupy more than 50 acres of land located on both sides of the North Branch of the Chicago River.

[1] 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.

[10] The developer released plans designed by Chicago-based architectural firm Skidmore, Owings, and Merrill in July 2018.

[11] Sterling Bay estimates the entire development will take up to ten years to complete when construction begins.

[19] Later that month the Chicago City Council approved plans for Lincoln Yards, including a tax increment financing agreement.

[31] In the summer of 2023, Sterling Bay announced that it would commence work on the “Steelyard” portion of the Lincoln Yards project later that year.

[32]   As of January 2025, no work has commenced on any of the planned buildings, suggesting the financial strain on Sterling Bay is critical.

In April 2024, Sterling Bay put three properties next to the planned Lincoln Yards development up for sale “as it stares down an imminent deadline to pay off debt.”[33]  The effort to sell the properties was seen as an attempt by Sterling Bay to “navigate a financial storm” related to Lincoln Yards.