Overview

• JDL Development and Kayne Anderson Real Estate agreed to buy the 31-acre northern Lincoln Yards parcel from Bank OZK, with the sale expected to close by the end of September.
• Renamed Foundry Park, the project cuts density to under 3,000 units and shifts away from Sterling Bay’s high-rise office vision toward predominantly residential housing.
• Early designs call for a mix of mostly mid-rise buildings, a few 30-story towers, single-family homes, riverfront parks, tree-lined streets and limited commercial space.
• Developers plan to market about 20 percent of units as affordable housing in accordance with city rules, though specific affordability plans are still being worked out.
• An amended planned development agreement and zoning approvals must be secured from the Chicago City Council before construction can begin, with work targeted for late 2026.