The overly-ambitious South Works mega redevelopment project once slated for the former South Shore US Steel site was dealt a final death blow last week as plans were revealed to split the vast, empty lakefront plot into four smaller, more palatable pieces.
"After several discussions, meetings, and tours with representatives from US Steel and the City of Chicago Department of Planning, it has been agreed that the best way to serve the 7th Ward and surrounding communities is to take the massive 430-acre lakefront property and divide it into smaller parcels," said 7th Ward Alderman Greg Mitchell in a newsletter to constituents, as reported by DNAinfo.
The vacant site has since been rebranded as 8080 Lakeshore and is being actively marketed by real estate brokerage Cushman & Wakefield. It is hoped that the less intimidating scope of the parcels — now ranging in size from 56 to 135 acres — will attract developers that would otherwise be unwilling or ill-equipped to tackle such a colossal site in its entirety.
The latest news comes roughly five months after developer Dan McCaffery announced a split with then partner US Steel, who still owns the land. The now-dissolved team previously planned 13,000 homes and 17.5 million square feet of retail to be built on the site over 25 years and at a staggering cost of $4 billion.
The abandoned South Works site was also breifly discussed as a potential home of the Obama Presidential Center as well as an alternative location for Chicago’s now-deceased Lucas Museum of Narrative Art.
Update: According to a representative from Cushman & Wakefield, the site can still be purchased in its entirety if so desired. The four-parcel illustration was a representation of how the site could be divided. Unlike before, potential buyers are no longer required to partner with US Steel to develop all or a piece of the property.
U.S. Steel Land Broken Up Into 4 Pieces, Ending Dream Of Mega-Development [DNAinfo]
Chicago Lakeside Development Mega-Project Abandoned as Developer and US Steel Split [Curbed Chicago]
8080 Lakeshore [official website]
Previous South Shore coverage [Cubed Chicago]
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