The Lincoln Yards development near Goose Island has revealed an updated construction timeline. Following the completion of the first phase at Ally on 1229 W. Concord Place, developer Sterling Bay presented a new phasing plan that closely mirrors the one unveiled in 2021 during a community meeting. The next phase of construction, known as The Steelyard, will feature multiple mid- and high-rise structures and a central commercial axis connecting them. The project will be designed by various firms and will offer new outdoor space.
The first two structures in The Steelyard will begin construction later this year, starting with 1665 N. Throop Street (photo below). The 15-story building, designed by Gensler, will stand 218 feet tall and feature a cube-shaped design with a large active podium. The lower levels will have retail space, a two-theater entertainment center with 4,500 seats, 140 vehicle parking spaces, and 70 bicycle parking spaces. The building will be clad in brick with an active street front, while the upper levels will be made of glass with angled cuts for outdoor space. The building will offer over 350,000 square feet of office space.
A local firm, HPA, is designing 1687 N Throop Street (photo below), which will consist of two structures rising 19 stories and 223 feet at its tallest point. The buildings will feature cantilever balconies and hanging gardens. A wall of pedestrian bridges will separate the two structures, spanning over an opening that leads to the project’s primary park on its north side. The stepped base will offer multiple commercial spaces. The interiors will have 350 residential units, including 102 studios, 171 one-bedrooms, 73 two-bedrooms, and four three-bedroom layouts, with 35 units or 10 percent designated as affordable housing.
Details on the formal design of The Market Hall (photo below) are still scarce, but it is set to become the main dining destination in this section of the development. The hall will feature gabled roofs and offer multiple spots for tenants across a multi-level space that meets the park with a large plaza.
The central park at Lincoln Yards will serve as the development’s anchor, with the Chicago River dividing it into two halves. The next phase of construction will prioritize the southern end of the park, which will be subdivided for quicker delivery. The first portion of the park to be built will be the area directly adjacent to 1687 N. Throop Street, as the park will hold the parking garage for the residential building, providing 150 vehicle parking spaces and 75 bicycle parking spaces.
As part of this development, a significant portion will be allocated to a large plaza, playground, and dog run. Once completed, the 6.5-acre southern park will feature multiple fields, seating areas, and small facility buildings. The park, designed by Site Design Group, will also connect to an expanded riverwalk that includes a future water taxi stop, kayak launches, and more. The riverwalk will lead to Ally, located just south of the park.
Other future phases of the project that we are aware of include a large parking garage at Concord Place and Throop Street, an extension of the 606, a new bridge over the river, and two riverfront residential towers that will be the final additions to The Steelyard. While no specific groundbreaking date has been announced, both of the main buildings are expected to commence construction by the end of the year. They have already submitted for foundation permits and have a projected 24-month timeline for completion.
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