CHICAGO | Canal Edge | 47-67 acres

[BVictor1]

Might as well start this thread to what could potentially become a long-term mega project in the South Loop.


https://chicago.suntimes.com/transportat...-stadium-amtrak-federal-funding-railyard

Amtrak's funding boost paves way for White Sox chairman-in-waiting Justin Ishbia's South Loop vision

More than $600 million in federal funding announced Friday could open up a 47-acre parcel that Ishbia has considered for a potential Sox stadium, sources said.

By Mitchell Armentrout Aug 14, 2026, 4:34pm CDT

More than $600 million in federal grants announced Friday will help Amtrak relocate its Chicago maintenance facility from the South Loop to Bridgeport, paving the way for a new mega-development backed by potential White Sox chairman-in-waiting Justin Ishbia that could eventually grow to include a new stadium.

Amtrak is putting most of its newly awarded Federal Railroad Administration funding toward a new Midwest Maintenance Facility at the current site of a Union Pacific rail yard in Bridgeport, according to an Amtrak statement.

That’ll open up Amtrak’s current 47-acre site along the Chicago River south of Roosevelt Road, which Ishbia’s private equity firm, Shore Capital Partners, is under contract to purchase. The firm announced plans in March for a mixed-use development including a medical campus in partnership with Northwestern Medicine.

But sources close to the sprawling proposal have said Ishbia has also considered a future Sox stadium at the site

Ishbia has all but guaranteed a new stadium at some point if he obtains control of the team, telling the Sun-Times last fall that “whether a new stadium occurs in four years or 34 years, I don’t know, but I’m going to be involved in a stadium at some point with the White Sox.”

Amtrak is hosting a community meeting on the new rail yard project Aug. 26 at 5:30 p.m. at the Pui Tak Center, 2218 S. Wentworth Ave.

[twister244]

Love the smell of a new Chicago thread.......

[BVictor1]

https://www.chicagobusiness.com/real-est...ustin-ishbia-amtrak-south-loop-20260814/


Federal rail funding clears path for Justin Ishbia’s big South Loop plans

By Justin Laurence By Danny Ecker
August 14, 2026 02:06 PM CDT

Amtrak’s Midwest modernization overhaul received nearly $700 million in federal funding today that will help relocate the passenger rail giant’s maintenance facility to Bridgeport, clearing the way for Chicago White Sox owner-in-waiting Justin Ishbia’s plan for a mixed-use project along the Chicago River.

The funding is key to opening up a massive tract of land near where Ishbia plans to combine Amtrak’s 47-acre rail yard at 14th Street with a 20-acre BNSF Railway-owned yard for a megadevelopment, initially anchored by a medical campus, that could eventually add a new White Sox stadium.

Announcements today from Amtrak and the U.S. Department of Transportation detailed the financial terms of that arrangement.

Ishbia is investing more than $125 million toward the development of a purpose-built Amtrak maintenance facility on Union Pacific’s Canal Yard. An Ishbia-led entity called Canal Edge will lead the project, which is expected to begin construction this fall and take 18 months to complete, according to a press release.

The funding from Ishbia will combine with the $696 million in federal transportation funding to build out the new Amtrak facility and improve Amtrak’s South Branch Bridge. Ishbia’s contribution will effectively allow him to take control of the current 14th Street site.

A separate Ishbia-led entity, City River Holdings, is seeking a $1.8 billion loan for a future redevelopment of the 14th Street yard, according to federal records. The debt would come through a federal loan program known as Railroad Rehabilitation & Improvement Financing, or RRIF...

Ishbia is planning a mixed-use campus initially anchored by a Northwestern Medicine healthcare facility and medical innovation hub. Ishbia serves on the board of directors for the hospital system. The project will include residential, green space and offices, according to sources familiar with the development.

While a stadium situated on the southern portion of the site running along the river, with home plate facing the Loop, is still being considered

Ishbia is also in advanced talks to purchase a roughly 20-acre rail yard owned by railroad operator BNSF adjacent to Amtrak’s 14th Street yard

The South Branch Bridge will be rehabbed with $37.3 million in funding, part of a plan to renovate the 110-year old bridge to extend its life while planning to replace it entirely continues.

The windfall of federal funding is being delivered as Congress considers a significant change to major redevelopment projects at Amtrak properties that could exempt Ishbia’s development from property taxes, local zoning rules and environmental reviews.

An amendment tacked on to the federal transportation reauthorization act, dubbed Build America 250, would streamline redevelopment of Amtrak properties, but could have a major impact on state and local finances and control over how they are built. The legislation would make any property Amtrak owns, or jointly owns through a public-private partnership, exempt from property taxes and sales taxes on construction materials if they are eligible for the RRIF program.

[Tom In Chicago]

Very interesting. . . something to keep an eye on. . .

. . .