One of the city’s largest development parcels is being eyed by a group of politically connected developers. Reports in Crain’s Chicago Business identify key members as Richard Stein, Michael Marchese, Ron Shipka and William Cellini. Westrec Marinas and Northfield brokerage and development firm Next Realty also are reportedly involved in plans to redevelop the 573-acre parcel, where the South Works steel mill once employed 20,000 workers.
Solo Cup Corp. already is building a $100 million factory on a 118-acre parcel on the site’s southern end. The South Works land could hold more than 4,000 residential units as well as retail and other uses.
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