Related Midwest to develop pioneering Quantum Innovation Hub in Chicago

CHICAGO (July 25, 2024) — 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 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 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.