Updated details and renderings have been revealed for the mixed-use development at 1840 N Marcey Street in Lincoln Park. Sitting just east of the future home of Lincoln Yards, the lot is currently occupied by a commercial building bound by curved railroad tracks to the south. Similar to Lincoln Yards, this project is also being led by developer Sterling Bay.
Sterling Bay is seeking a financial partner for the Lincoln Yards megadevelopment and is planning to sell land adjacent to the 53-acre site to meet debt repayment deadlines. CBRE has been hired to sell properties at three locations,1907 N Mendell Street, 1901 N Elston Street and 1500 W Cortland Avenue, which were initially part of the $6 billion mixed-use project. Amid financial difficulties, Sterling Bay has been selling properties, including an industrial property sold last year for $4 million, Crain’s Chicago Reported.
Potential financing has been revealed for the Lincoln Yards megadevelopment near Goose Island. The money would come from Florida-based Kayne Anderson Real Estate who is exploring becoming the primary financial backer for the project according to Crain’s. The 53-acre development has stalled as the lending market has changed since its original announcement in 2018.
Renderings have been revealed for the mixed-use development at 1840 N Marcey Street in Lincoln Park. Located just west of N Clybourn Avenue across the river from Lincoln Yards, the proposal will replace a one-story commercial building bound by railroad tracks to the south. Developer Sterling Bay presented the SCB-designed to local neighbors at a community meeting earlier this week.
The mixed-use development at 1840 N Marcey Street in Lincoln Park has advanced to be reviewed by the Committee on Zoning. Located west of N Clybourn Avenue and across the river from Lincoln Yards, the proposal will replace a one-story commercial building near the recently announced 2033 N Kingsbury Avenue. Developer Sterling Bay is working with local-firm SCB on its design, adding to all of their other surrounding projects.
