PsiQuantum to anchor new Illinois Quantum & Microelectronics Park, a 128-acre quantum campus that will be developed through a public-private partnership with the state of Illinois; project marks initial phase of broader 400-acre master plan on former U.S. Steel South Works site

Related Midwest today joined Illinois Gov. JB Pritzker, Chicago Mayor Brandon Johnson, PsiQuantum, CRG, Clayco and other development partners to announce the Illinois Quantum & Microelectronics Park (IQMP), a new quantum innovation campus that marks the first phase of a broader 400-acre master plan at 8080 S. DuSable Lake Shore Drive, in the South Chicago neighborhood. Related and CRG will co-develop the IQMP for anchor tenant PsiQuantum, a leader in quantum computing technology.

8080 S. DuSable Lake Shore Drive is located on the former U.S. Steel South Works site along the Lake Michigan shoreline, one of the largest contiguous infill waterfront properties in the country. The IQMP will occupy 128 acres on the southern end of the site. In addition to PsiQuantum, the campus will include cryo facilities and equipment labs, as well as research and office spaces for private companies and universities to collaborate.

As a fully integrated, highly diversified industry leader, Related and its partners will leverage years of expertise in executing large-scale, multi-phase developments in Chicago and throughout the U.S.

“The same ambition and innovation we’ve applied to some of Chicago’s largest and most complex real estate developments will be employed here as we deliver a next-generation quantum campus that will elevate Chicago and Illinois on the global stage,” said Curt Bailey, President of Related Midwest. “8080 S. DuSable Lake Shore Drive will catalyze investment in the South Chicago neighborhood, and we’re proud to be working with Governor Pritzker, Mayor Johnson, PsiQuantum and other stakeholders to lay the foundation for emerging industries that will propel the region’s economy into the future.”

“We are very excited to begin development of this site, starting with the creation of the IQMP, which is an important public-private investment in the future of South Chicago as a technology and infrastructure hub,” said Jeff T. Blau, CEO of Related Companies. “Utilizing our expertise in executing large complex real estate, clean energy and infrastructure projects, Related can provide end-to-end solutions in this growing sector – not just here in Chicago but across the U.S.”

The first phase of the IQMP, designed by Lamar Johnson Collaborative, will occupy approximately 30 acres and is scheduled for completion in 2027. Clayco will serve as general contractor for the initial phase.

“Partnering with PsiQuantum on this groundbreaking facility is a monumental step in realizing our collective vision for a pioneering quantum campus that leads the world in research and innovation,” said Michael Fassnacht, Chief Growth Officer and President of the Chicagoland Region at Clayco. “Together with Related and our Clayco entities, CRG, LJC, and our construction team, we are dedicated to delivering continued advancements in quantum computing. I am extremely thankful for Governor Pritzker’s leadership in bringing this tremendous catalyst for economic growth to Chicago and Illinois.”

Palo Alto, California-based PsiQuantum is a quantum computing company on a mission to build the world’s first commercially useful quantum computer, which would be able to tackle some of the greatest challenges we face – across climate, energy, pharmaceutical, defense, financial services and beyond.

“Building a utility-scale quantum computer at the IQMP is a generational project at an iconic location,” said Fariba Danesh, Chief Operating Officer, PsiQuantum. “We are thrilled to partner with Related and CRG to make this vision a reality on the aggressive timeline required to develop this critical technology. Innovative public-private partnerships like these are what earns Chicagoland its reputation as a global leader.”

The development of the IQMP and 8080 S. DuSable Lake Shore Drive continues Related’s investment in Chicago’s burgeoning tech community. Related previously donated land at The 78, its 62-acre mixed-use neighborhood development, to the University of Illinois System to house the Discovery Partners Institute (DPI), which pools public and private resources to support tech talent development, applied R&D and business building. The university’s Illinois Quantum Information Science and Technology Center is a member institution of the Chicago Quantum Exchange.

Located 10 miles from the Loop, 8080 S. DuSable Lake Shore Drive is located within walking distance of the Metra Electric 87^th Street station, served by CTA bus routes and close to the Chicago Skyway and other major thoroughfares. The site is also within the Illinois International Port District, providing access to multimodal transportation, and offers high power and water capacity for quantum and other advanced technology industries.

About Related Midwest:

Related Midwest, the Chicago office of Related Companies, is the preeminent developer of mixed-use properties, affordable housing communities, and luxury condominium and rental homes across Chicago. The company commands a portfolio of residential, mixed-use and master-planned properties, including pioneering projects like The 78 where the company is heading a transformational development on 62 acres in the heart of downtown Chicago to create the city’s next great neighborhood. Related Midwest is also the largest developer of affordable housing in the Midwest, with more than 10,000 units, and has never converted an affordable unit to market rate.

The firm’s other market-defining projects include ultra-luxury residential tower One Bennett Park, designed by Robert A.M. Stern Architects, with adjacent park by Michael Van Valkenburgh Associates; Fulton Market’s The Row, the first high-rise in Chicago co-built by a African American-owned general contractor (BOWA Construction); luxury rental towers 500 N. Lake Shore Drive and OneEleven; Lathrop, an ongoing restoration and redevelopment of the historic Julia C. Lathrop Homes into a mixed-income community; 400 Lake Shore, two residential towers situated where the river meets the lake in Chicago; and Roosevelt Square, an innovative 120-acre multi-phase development on Chicago’s west side.

For more than 30 years, Related Midwest has been an industry leader in community commitment and routinely sets the bar for measurable equity, diversity and inclusion standards on all of its projects. The company is deeply committed to improving neighborhoods, creating sustainable opportunities for small businesses and community residents, and building inspirational places and homes for all. Related Midwest’s business model is built on partnership with minority- and women-owned firms as well as mentorship of small minority- and women-owned businesses as they launch and grow. The firm is a founding partner in HIRE360, a first-of-its-kind community partnership designed to expand professional development and employment opportunities in the trades.

About CRG:

CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mixed-use assets. The firm serves clients and investors from seven regional offices benefiting from local expertise in Chicago, St. Louis, Seattle, SoCal, Phoenix, Philadelphia and Atlanta. CRG has developed more than 12,500 acres of land and delivered over 220 million square feet of assets exceeding $14 billion in value. For more information, visit CRG’s website at www.realcrg.com.

About CLAYCO:
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $5.8 billion in revenue for 2023, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.

About PSIQUANTUM:

PsiQuantum was founded in 2015 and is headquartered in Palo Alto, California. The company’s mission is to build and deploy the world’s first useful, fault-tolerant quantum computing systems. PsiQuantum’s photonic approach enables it to leverage high-volume semiconductor manufacturing and existing cryogenic infrastructure to rapidly scale its systems. Learn more at www.psiquantum.com.

Please visit this link for renderings of the IQMP campus (credit: Related Midwest & CRG).