Foundry Park Development Wins Approval, Promising to Transform Lincoln Park Riverfront

By Socialhood News · Il/Chicago/Lincoln Park · January 21, 2026

A major new development that will reshape Lincoln Park's riverfront received unanimous approval from the Chicago Plan Commission on January 15. The ambitious Foundry Park project, led by JDL Development and Kayne Anderson Real Estate, will transform 34 acres of vacant former industrial land along the Chicago River between Lincoln Park and Bucktown.

The $3 billion development will create more than 3,200 residential units in a 6 million-square-foot project that includes high-rises reaching up to 450 feet. The site is mostly located east and north of the Chicago River in Lincoln Park, with a few buildings extending west of the river on Elston Avenue in Bucktown. Southport Avenue will be extended south to the Chicago River, serving as the main commercial corridor through the development. The project also includes plans for a new riverwalk, river edge naturalization, park areas, and a possible extension of the 606's Bloomingdale Trail.

"Foundry Park is more than a development. It's a connection of neighborhoods that have been detached for over a century," said Jim Letchinger, president of JDL Development. The longtime neighborhood resident called the project "personal," describing it as "an open, inviting community welcoming people to explore the parks, stores and plazas as well as the other great body of water in Chicago — the Chicago River." While the proposal still needs City Council approval, construction could begin as soon as October 2026, pending final approvals and permits.

Sources:
1. https://blockclubchicago.org/2026/01/15/foundry-park-development-at-former-lincoln-yards-site-okd-by-city-plan-commission/
2. https://www.chicagobusiness.com/commercial-real-estate/city-panel-grants-first-approval-foundry-park-megaproject