Carter Cadillac of Chicago set to Open in 2027

Luxury car brand Cadillac is opening a new dealership around 3 miles northwest of The Loop.

Jack Carter Automotive Group bought the 1400 West North Avenue site last year from Sterling Bay for $15.5 million. According to Crain’s, the property was formerly Nortown Automotive, which moved to North Avenue due east. The dealership is set to be Cadillac’s first individual outlet in Chicago’s city limits, as there are six Cadillac dealerships in the suburbs. Carter Cadillac of Chicago is expected to open its doors in late 2027, according to the outlet.

The site was acquired by Sterling Bay seven years ago as part of its Lincoln Yards megaproject, which ultimately succumbed to a case of arrested development. Most of the land earmarked for the project was surrendered back to the lender, and John Novak’s construction company bought 18.4 acres for $34 million earlier in 2026. In mid-2025, Sterling Bay put the only building out of the project that was completed on the market, but, as previously reported in The Real Deal, lender Bank OZK earlier this year seized that property, a fully vacant 320,000-square-foot life sciences lab and office building at 1229 West Concord Place to resolve a loan default by the developer and its partners.

Previously, Sterling Bay envisioned a 100,000-square-foot medical office building for the new Jack Carter Cadillac site. The medical building was separate, but complimentary of the Lincoln Yards project, Crain’s reported. Its proximity to the main campus was a part of the appeal.

If nothing, the Lincoln Yards project was ambitious. Initially projected to be a $6 billion, 50-acre mixed-use development with towers over 500 feet, the infrastructure demands eventually proved to be too much.

The plan for the megaproject has shifted drastically as it’s come under new ownership. JDL Development and Kanye Anderson Real Estate have received approval from the Chicago City Council to zone 6 million square feet for 3,200 residential units, around 2,900 rentals and 305 homes at the former Lincoln Yards site. While there’s significant progress still to be made, the new “Foundry Park” development is chugging along.

— Hunter Cooke