[ Chicago, Illinois USA ]
Local press reports indicate that U.S. Steel has reached a deal to sell the 440-acre South Works, a site situated along Chicago’s lakefront.
The buyer is Emerald Living, an international partnership of WELink Group of Hong Kong and Barcelona Housing Systems of Barcelona to build environmentally friendly modular housing. The group is currently involved in similar projects in Chile and Croatia and a $1.3 billion project in Spain for 8,000 housing units.
The mixed-use development on the re-purposed site may include as many as 20,000 housing units.
From a prior post:
The South Works mega-project has been subdivided into four development parcels, each ranging in size from 56 to 136 acres. The full 430-acre project site remains available for purchase, as well.
As a consolidated development, full project had been estimated as a $4.0 billion project.
The property is located approximately 10 miles to the south of downtown Chicago. The site was at one time the location of U.S. Steel’s South Works steel manufacturing plant.