Lincoln Yards Only Completed Building Is For Sale

The life sciences building at 1229 W. Concord Place is now for sale, symbolizing the decline of the ambitious Lincoln Yards project. Once envisioned as a $6 billion megadevelopment, the project has been hampered by financial issues and community opposition since its City Council approval in 2019. JDL Development and Kayne Anderson Real Estate recently announced plans for the northern section, now termed Foundry Park, which will include residential and commercial spaces. Meanwhile, the southern section, still controlled by Sterling Bay, contains the vacant life sciences building that broke ground in 2021.

Sterling Bay has struggled to secure tenants for the building, which has remained empty since its completion in 2023. Former Mayor Rahm Emanuel supported the Lincoln Yards vision, but local groups raised concerns about its impact. The pandemic has further complicated development efforts, prompting Sterling Bay’s CEO to criticize previous city leadership for project delays. As the fate of the southern section remains unclear, the sale of the life sciences building marks a significant moment for the future of the area.