The former US Steel South Works in South Chicago will be redeveloped, The New York Times reports.
The “ambitious” $4 billion plan will remake the 470-acre site with homes, a marina, commercial space and a school, the paper reports. It is the largest undeveloped parcel in the city.
You can learn more about the history of the site here; take a look at the before and after photos from the mill’s heyday (below).
This history site notes that 20,000 people once worked at the mill, which closed in 1992 after operating 110 years. It also notes that plans to redevelop the site have come and gone.
There is reason to be skeptical this plan will come to fruition. The Times notes, “the city is overwhelmed with unsold condos and housing units left over from the housing bubble. ‘We currently have years and years of oversupply,’ said James Kinney, the vice president for luxury sales at Baird & Warner real estate.”