The future of the mixed-use development at 1840 N Marcey Street in Lincoln Park remains murky as its zoning approval is differed again. Located just east of the future home of Lincoln Yards, the project would replace a large commercial building but preserve the curved tracks shaping the southern end of the site.
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.
