It will begin building the all-new 2017 Lincoln Continental sedan about the same time, according to supplier sources.
"Chicago Assembly Plant will phase out production of the MKS in 2016 but remains vital to our global manufacturing footprint and will continue to manufacture the Ford Taurus, Ford Explorer and Police Interceptor vehicles," Lincoln spokesman Sam Locricchio wrote in response to a query from Edmunds.
The 2017 Continental is slated to go into production in late spring 2016, suppliers said.
Based on a concept that was unveiled earlier this year at the 2015 New York Auto Show, the Continental will be Lincoln's new top-of-the-line sedan, reviving a name that was last used in 2002. It will compete directly with General Motors' all-new 2016 Cadillac CT6 sedan.
Ford has released few details, but the production 2017 Continental is expected to be powered by a twin-turbocharged 3.0-liter V6 engine that could make more than 400 horsepower. It also is expected to be available with a new nine-speed automatic transmission.
Suppliers said the 2017 Continental will be assembled at Ford's Flat Rock plant in southeastern Michigan.
Edmunds says: Luxury shoppers will still be able to get their hands on the Lincoln MKS as they await the highly anticipated new Continental.