Funding has been partially raised for the upcoming Illinois Quantum and Microelectronics Park on the South Side. Announced just over a year ago, the massive park will be anchored by California-based PsiQuantum. The company has now raised $1 billion to help kick off construction of its Chicago facility, which is being developed by Related Midwest and CRG.
Site context map of Illinois Quantum and Microelectronics Park via Google Maps
Quantum Park will be built in phases and will be home to multiple computing and technology companies, as well as various universities from across Illinois. The first phase of Psi’s campus will be located on the southeast corner of the 128-acre site that once housed the former South Works steel mill. Design work for Phase One is currently underway by Lamar Johnson Collaborative.
Site plan of Illinois Quantum and Microelectronics Park by Lamar Johnson Collaborative
The first phase of the larger project will focus on an 88,000-square-foot office and lab building, along with initial spaces dedicated to constructing and developing the quantum computer. Future phases will include a cryogenic cooling facility and three data/computing buildings, to be built in separate phases. These efforts will ultimately create the world’s first commercial quantum computer.
Rendering of phase one of Illinois Quantum and Microelectronics Park by Lamar Johnson Collaborative
PsiQuantum is partnering with the University of Illinois for the development of its facility. This leaves nearly 300 acres available for additional office/lab space, data centers, and other computing infrastructure. Additionally, the project will preserve and expand the existing park on the north end of the site, including a public lakefront walkway.
Site plan of Illinois Quantum and Microelectronics Park by Lamar Johnson Collaborative
The overall park is expected to cost $9 billion to construct, with PsiQuantum committing at least $1.1 billion to qualify for $200 million in state incentives. Work on the first phase is scheduled to begin early next year, with completion anticipated in 2028. A timeline for future phases has not yet been announced.
Rendering of Illinois Quantum and Microelectronics Park by Lamar Johnson Collaborative
While not all of PsiQuantum’s $1 billion will go to the park, part of it will be used to kick things off. Meanwhile, other investments have already begun to emerge near the site, including IBM’s new research facility, a $300 million Advocate Health hospital slated for completion by 2029, and Inflection Quantum’s announcement of its own facility and computer on the campus.
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Im looking forward to seeing new developments of grocery store ,affordable housing and 🙏few more things in this area of the south east side,YIMBY thank you for the update
Pretty Exciting Project. Especially for the South Side.
Quantum tech is a big gamble, but it’s great to see some activity on this long-dormant site.