A $6 Billion Chicago Real Estate Project Seeks Funds After Delay
- Lincoln Yards development has been set back by 3 years
- ‘Lightfoot put a brake on our entire project,’ CEO Says
Chicago’s $6 billion Lincoln Yards mega development is in talks to receive new financing after delays in getting approvals from the city set the project behind schedule.
The third-biggest US city has been slow to issue permits for the 53-acre development on the banks of the Chicago River, set to become a life sciences hub, and developer Sterling Bay is now in the process of recapitalizing the whole project, said Chief Executive Officer Andy Gloor.