Kayne Anderson Real Estate

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Foundry Park breaks ground on $3 billion Chicago River development

Capital partner in Foundry Park, alongside JDL Development

Chicago officials broke ground October 21 on Foundry Park, a $3 billion plan to turn the former A. Finkl & Sons steel site into homes, parks and a riverwalk along the North Branch of the Chicago River. JDL Development and Kayne Anderson Real Estate bought the northern 31 acres for about $84 million in October 2025. The seller was Bank OZK; the land had been the northern piece of Sterling Bay's Lincoln Yards plan, which never advanced.

Updated Oct 22