A major transformation of the former Lincoln Yards site is moving forward — and it could eventually bring the popular 606 Trail much closer to Southport.
Chicago City Council has approved $201.6 million in Tax Increment Financing (TIF) funding for public infrastructure at Foundry Park, the massive mixed-use development planned along the North Branch of the Chicago River near Southport Avenue and Cortland Street.
The funding will support new streets, utilities, parks, riverfront improvements and, notably, $21.5 million toward extending the 606 Trail into the development.
What Is Foundry Park?
Foundry Park is planned for approximately 31 acres on the northern portion of the former Lincoln Yards development site. Developers JDL Development and Kayne Anderson Real Estate envision a roughly $3 billion mixed-use neighborhood with as many as:
- 3,737 mixed-income residences
- 970,000 square feet of office, retail and hotel space
- New parks and public spaces
- A riverwalk along the Chicago River
- New streets and utilities
- Connections to an extended 606 Trail
About one-third of the development is expected to consist of open space, including parks, plazas, playgrounds, a dog park and riverfront paths.
The 606 Could Finally Move East
Perhaps the most interesting piece for North Side residents is the renewed push to extend The 606, whose Bloomingdale Trail currently ends near Ashland Avenue.
The idea of extending the trail east toward the Chicago River has been discussed for years as part of the original Lincoln Yards plans. The Foundry Park infrastructure package now allocates $21.5 million specifically toward the extension.
The Foundry Park plans leave room for the trail to continue through the development and cross the river. However, developer Jim Letchinger has said the city and county would first need to complete the connection bringing the trail from its current eastern end toward the property.
In other words: this approval represents a significant step, but it does not mean you’ll be biking directly from the 606 to Southport Avenue tomorrow.
Where the $201.6 Million Will Go
According to the city, the approved TIF reimbursement includes approximately:
| Improvement | Funding |
|---|---|
| Roads and utilities | $70.9 million |
| New parks | $69 million |
| Riverfront improvements | $33.5 million |
| 606 Trail extension | $21.5 million |
| Site preparation/general expenses | $6.9 million |
The money will be reimbursed as infrastructure components are completed rather than being paid to the development team upfront.
Construction Could Begin This Fall
The approximately $1 billion first phase is expected to begin with improvements around Kingsbury Street, Cortland Street and Southport Avenue, along with roughly 600 feet of riverwalk and a central park.
Initial building plans include three residential buildings totaling 709 mixed-income units, a 183-room hotel and a 777-space underground parking garage.
Developers have previously said they expect to begin construction in fall 2026 per Urbanize Chicago.
A Big Change at the Southern End of Southport
For the Southport Corridor, Foundry Park could eventually create something that has never really existed: a much more continuous pedestrian and bicycle connection south from the neighborhood toward the river, Lincoln Park, Bucktown and the 606.
Southport Avenue currently feels like it effectively comes to an end as it approaches the former industrial area near Cortland. Foundry Park’s new streets, parks, riverwalk and proposed trail connections could dramatically change that southern edge of the neighborhood.
And if the entire 606 connection is eventually completed, Southport could become one of the gateways between the lakefront side of Chicago and neighborhoods stretching west along the Bloomingdale Trail.
There are still years of construction ahead — and important pieces of the 606 extension remain dependent on additional government infrastructure work — but after years of stalled plans at Lincoln Yards, this portion of the riverfront appears to finally be moving toward redevelopment.
