The famous actor and Rapper "Common" together with a team of developers are proposing to bring a mixed-use megadevelopment to the vacant South Works property. The proposal describes a massive film production complex with 15 to 20 sound stages on one end of the site per Chicago Curbed.
The project would include the following:
- Production studios
- Entertainment venues
- Sports facilities
- Hotels
- Residences
- Retail
The proposal would also include another area designated for live music along with a theater, climbing wall, and skate park. There could also be a Greg Norman-affiliated golf practice facility and social club. It is not clear at this time what the cost will be to build but its backers expect to pay $71 million to buy the 415 acre site.
This group of developers would be the third team to attempt to redevelop the site since US Steel closed its manufacturing plant at the mouth of the Calumet River in 1992. In 2004, local developer McCaffery Interests teamed up with US Steel on a $4 billion multi-phase mixed-use redevelopment plan. That partnership dissolved in 2016 without anything being built on the site.
In 2017, another developer, Emerald Living and modular home builder Barcelona Housing Systems proposed their plan to bring up to 20,000 homes to the site. Those plans dissolved last year over concerns about soil contamination.
Today only the original remains of an industrial complex remains. The far east part of the site is home to the Park District's Steelworkers Park which also has a rock climbing area.
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The South Works site also happens to be one of 5 on a short list by Mayor Lori Lightfoot as a potential site for Chicago's first casino.
The team of developers will face challenges due to the sheer size of the parcel, the area's lack of mass transit and any environmental issues that might be involved. They will also need to win over the two aldermen who represent the site. City Hall officicials will be getting together with the team before the end of the summer to discuss this project.
The joint venture includes Common and his Freedom Road Productions film company along with Los Angeles based developer Sam Nazarian, RoadTown Enterprises, New York based developer Morris Nasser and Chicago's DL3 Realty.
According to The Grapevine, the proposal would also include residential buildings, hotels and other retail and entertainment concepts, such as an outlet mall and a restaurant district with a food hall, multiple parks and other public outdoor spaces. The plan could cost upward of billions of dollars.
US Steel is still trying to sell this property but unlike other bids for this site, Common's proposal has one distinct advantage in that he is backed by big names with even bigger pockets.
