Developers envision scaled back proposal at Lincoln Yards North

Kayne Anderson Real Estate and JDL Development have announced that they are entering into an agreement to acquire the former Lincoln Yards North site. Located at 2001 N. Southport, the 31-acre site is the northern portion of Sterling Bay’s Lincoln Yards plan along the Chicago River. The developer surrendered the northern portion of the land back to its lender Bank OZK earlier this year, upon which the bank looked to resell the land.  

Rebranded as Foundry Park to pay tribute to over 100 years of history at this location, the new development will be heavily focused on the creation of a residential community. Chicago has deep industrial roots and Foundry Park will respect the past while creating a community for the future. Kayne Anderson and JDL are excited to work with the City of Chicago to create a plan that can be executed and will quickly turn a long vacant site into a beautiful new neighborhood. It's time to bring this land to life.  

Centrally located on the northside of Chicago along the North Branch of the Chicago River, Foundry Park will embody the spirit of the city as the destination where the greater Chicago community can come together to live, play, meet and innovate. 

This new scaled down development will offer homes, condos, apartments, as well as mixed and commercial uses designed with the community in mind. Foundry Park also plans to increase the affordable units offered on site from what is currently required. The community will be a walking neighborhood, with tree lined, low traffic streets and new open green space that engages the river and offers a four-season recreational opportunity. Foundry Park will be a gathering and recreational place for all.   

Alderman Waguespack stated within the new release that he is “pleased to see progress on the site with JDL and Kayne Anderson” and will be closely involved working with the surrounding community and city officials as the project moves forward. 

Kayne Anderson and JDL are moving quickly to reimagine and rebrand the site. The transaction is subject to customary closing conditions and is expected to close by the end of Q3 2025.