Lincoln Yards development clears hurdle after railroad spat settled

The tiff had been a hiccup for the project along the North Branch of the Chicago River

Chicago /
May.May 03, 2018 08:00 AM

Lincoln Yards development site and Andy Gloor

The latest obstacle to Sterling Bay and its plans for the massive Lincoln Yards development along the North Branch corridor wasn’t restrictive zoning restrictions, a powerful alderman or a vocal contingent of local NIMBY’s.

It was a railroad company with a habit of storing railcars in the middle of the street.

But Sterling Bay has cleared that hurdle now that the federal Surface Transportation Board recently granted its application to force the railroad company, Iowa Pacific, to abandon those tracks, according to Crain’s.

The company owns tracks near Sterling Bay’s 70-acre Lincoln Yards development, which is also near and R2 Companies’ office redevelopment project at 909 West Bliss Street on nearby Goose Island.

“I believe the company’s M.O. is to store cars on the train tracks in an attempt to get payments from developers, property owners and the City of Chicago,” R2’s Matt Garrison told Crain’s in September.

It’s not known whether the railroad company accepted a payment as a condition of giving up its tracks.

One thing control of the tracks paves the way for is a centerpiece of Sterling Bay’s plan for Lincoln Yards: an extension of the popular 606 path across the Chicago River.

The city, Iowa Pacific and Sterling Bay are in negotiations to hand over a stretch of track to be turned into the path extension. [Crain’s]Scott Klocksin


Related Articles

arrow_forward_ios
Port of Chicago (BartShore/Wikipedia, iStock)
Big development opportunity on tap at Port of Chicago
Big development opportunity on tap at Port of Chicago
Amita CEO Keith Parrott and the Amita Health’s Lisle headquarters at 2601 Navistar Drive in Lisle (Amita, Google Maps)
Amita Health adds to wave of suburban office subleases
Amita Health adds to wave of suburban office subleases
From left: DL3 Realty’s Leon Walker, Discover’s Roger Hochschild, Mayor Lori Lightfoot, and 8560 South Cottage Grove Avenue. (DL3, Discover, Getty, Google Maps)
DL3 Realty signs Discover to big South Side lease
DL3 Realty signs Discover to big South Side lease
Blackstone’s Jonathan Gray and CenterPoint CIO Jim Clewlow with one of the properties, 225 Spring Lake Drive, Itasca (Getty, Linkedin, Google Maps)
Blackstone expands industrial reach with $151M Chicago buy
Blackstone expands industrial reach with $151M Chicago buy
(Arlington Park, Google Maps)
Churchill Downs looks to sell 326-acre Arlington Park race track
Churchill Downs looks to sell 326-acre Arlington Park race track
Chicago this week raised indoor dining to 40% of a venue's capacity. (iStock)
Filling up: Chicago boosts indoor dining capacity
Filling up: Chicago boosts indoor dining capacity
Photo illustration of the Silver Lake Country Club (Silver Lake CC, iStock/Illustration by Kevin Rebong for TRD)
Orland Park golf club hits market as residential redevelopment
Orland Park golf club hits market as residential redevelopment
Sterling Bay’s Andy Gloor (right), JPMorgan’s Jamie Dimon and 370 North Carpenter Avenue in Fulton Market, one of two properties the companies are selling. (Sterling Bay; Getty; Google Maps)
Sterling Bay and JPMorgan test appetite for redevelopment
Sterling Bay and JPMorgan test appetite for redevelopment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...