Chicago Developer Hopes to Lure Amazon With New Lincoln Yards Development
Chicago is a contender for Amazon’s new headquarters, and developer Sterling Bay is vying to bring the e-commerce company’s campus to its new development: Lincoln yards. Sterling Bay owns the former A. Finkl & Sons steel site located along the Chicago River, and the developer hopes its newly released plans for the land will attract Amazon, according to the Chicago Tribune.
The sprawling Lincoln Yards development, which will border Lincoln Park and Bucktown, could cover up to 100 acres. If Amazon decides to call this site home, it would be joined by a wide array of mixed-use development. Sterling Bay envisions residential buildings, office space, a brewery, a brand new Metra stop, an extension of The 606 trail, and more, according to the report. The development is expected to cost anywhere from $6 billion to $10 billion.
Sterling Bay still needs to get approval from the City of Chicago, but that is not stopping the developer from planning ahead. Sterling Bay is taking advantage of the zoning changes that recently took place in the North Branch of the city. The developer already owns or is in the process of acquiring 70 acres and plans to actively acquire more land, the Chicago Tribune reports.
"Chicago as a city has a lot to offer someone like Amazon. If you're looking at Chicago and trying to build a second headquarters, 100 acres of riverside land between Lincoln Park and Bucktown feels like a good place to start,” said Andy Gloor, managing principal of Sterling Bay, according to the report.