The Chicago Plan Commission has approved Sterling Bay’s 800,000 sq. ft. The Steelyard project in the $6 billion Lincoln Yards development. Chicago Business Journal reports that the developer expects to break ground in the third quarter.
This stage will include a 15-story commercial structure, a 19-story, 350-unit residential building and a market hall, the business publication reported. It will also have office space and a 6.5 acre riverfront park open to the public, said Sterling Bay spokesperson Julie Goudie. Construction will take about two years to complete.
“We expect to start construction in mid- to late summer 2022,” Goudie said. “The informational presentation to the Plan Commission was the last step in the public review process.
Goudie said several more buildings will be built after The Steelyard is completed, as well as several infrastructure projects to support the new developments. These include Throop Street Bridge, an extension of The 606, an elevated park built on a former rail line. In addition, there are plans for a new water taxi stop and Riverwalk space.