T
he Illinois Quantum & Microelectronics Park, a redevelopment of the long-vacant U.S. Steel South Works site on Chicago's Far South Side, is moving forward with a potential construction start early next year. The Chicago Plan Commission has approved the project, which will transform the site into a cutting-edge research hub anchored by California-based PsiQuantum.

    Backed by $500 million in state funding, the project aims to drive innovation and provide economic opportunities for the city and state. Related Midwest President Curt Bailey expects construction to start within months of receiving final City Council approval, with groundbreaking on PsiQuantum's first building potentially happening early next year.

    The park will initially occupy 128 acres of the 440-acre site, with plans to expand into surrounding areas. The vision includes research facilities, an industrial cryogenics plant, walking trails, and residential development. However, environmental advocates and local residents have raised concerns about the project's rapid pace and potential impact on wildlife and affordable housing.

    Developers have held community meetings to address these issues and ensure the project aligns with local needs. Bailey emphasized their commitment to working with the community to benefit everyone involved. With $600 million in construction expected by next fall, the project is seen as a magnet for investment and a vital step towards Illinois' future economic success.