**Kayne Anderson and JDL to Acquire 31-Acre Chicago Development Site**
Kayne Anderson Real Estate and JDL Development have officially entered into an agreement to acquire a prominent development site located at 2001 North Southport Avenue in Chicago.
The joint venture will take ownership of a 31-acre portion of the former Lincoln Yards North development along the Chicago River. This newly rebranded project will be named Foundry Park and will mark a strategic shift toward the creation of a vibrant residential community.
Foundry Park will feature a mix of housing options including homes, condos, and apartments, along with commercial and mixed-use components. The reimagined plan reflects a scaled-down version of the original Lincoln Yards vision. In March, previous developers Sterling Bay and Lone Star Funds returned the property to the lender after failing to secure new investors or financing needed to advance the stalled project.
“As a real estate investor, Foundry Park is an incredibly rare opportunity to design a large-scale project from scratch that is adjacent to two coveted neighborhoods in a world-class city like Chicago,” said David Selznick, Chief Investment Officer of Kayne Anderson Real Estate.
The acquisition represents a fresh chapter for the site and a significant urban development opportunity in the heart of the city.
