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Located near Chicago, IL, USA

It started growing in the spring. It has grown 2-3 meters and recently (August) produced small yellow flowers.

I checked the suggested similar questions but did not see the same plant in any of them.

weed

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weed

brown thumb
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It is a Solidago of some variety, common name goldenrod. If it's as tall as you say, it might be Solidago gigantea, but there are several varieties. Whilst many goldenrod varieties are sold as herbaceous perennials for the garden, some are considered invasive in parts of the States, see Wikipedia entry here https://en.m.wikipedia.org/wiki/Solidago_gigantea

Bamboo
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  • I think it is more on the group of *Solidago canadensis* (stem: pubescent, not reddish). It is invasive (in part of Europe), but also it is considered a good plant for bio-diversity in North America. – Giacomo Catenazzi Sep 01 '20 at 07:56