New plan for 2 companies to acquire 'Lincoln Yards' after stalled development

CHICAGO (WLS) -- A new agreement was announced to develop part of the property that was to be known as "Lincoln Yards."

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The North Side location was supposed to be a $6 billion mixed-use development along the Chicago River.

Now, Kayne Anderson Real Estate and JDL Development have agreed to acquire and develop the north end of the property.

It's located at 2001 North Southport Avenue in the area around Kingsbury and Cortland.

The new scaled down project will be a residential development and offer homes, condos, apartments, as well as mixed and commercial uses.

No word yet on when it could break ground.