An Ambitious New Development Plan is in the Works for the U.S. Steel Site

Posted by Helaine Cohen on Wednesday, August 2nd, 2017 at 1:05pm.

A major development story is unfolding on Chicago’s south side that once again involves the 440-acre U.S. Steel site that closed roughly 25 years ago. Most recently, Chicago-based McCaffery Interests unveiled a 12-year attempt to build a sprawling master-planned community that would’ve included thousands of homes and millions of square feet of commercial space and a marina. But with that plan no dead, two European firms are set to bring their own ideas for the site to life.

According to a comprehensive report from The Tribune, Emerald Living and Barcelona Housing Systems have a deal in place to buy the site, though details surrounding that deal are still unknown. Regardless of the specifics, the new plan reportedly involves building as many as 20,000 modular, environmentally-friendly homes, as well as plenty of commercial, retail, and, office space as well that all maximizes the lake frontage and exceptional views of the downtown skyline.

Although we’re still a very long way from anything truly coming to fruition, initial renderings released by Barcelona Housing Systems are promising.

Here’s to hoping the U.S. Steel site finally gets developed.

Helaine Cohen, Chicago Real Estate Broker

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