June 4 – Chicago Fire FC owner Chicago Fire FC owner Joe Mansueto is set to privately finance a new £510 million ($650 million) football stadium in the city’s South Loop, marking one of the most ambitious privately funded stadium projects in U.S. soccer history.
The proposed 22,000-seat, open-air arena will rise on a 62-acre vacant site known as “The 78” — a long-dormant parcel once eyed for Amazon HQ2 and other major developments that failed to materialise. Mansueto, founder of financial services firm Morningstar and one of America’s richest men, aims to open the stadium by 2028.
Describing the venue as “more than just a stadium,” Mansueto said it will become a vibrant hub for “fans of all ages, backgrounds and neighbourhoods,” celebrating football “in the heart of our city.” The plans were announced via a full-page ad in local papers.
While the billionaire is funding construction himself, tens of millions in public infrastructure investment will be needed to ready the land. Developer Related Midwest intends to tap into a previously approved $450 million tax increment financing (TIF) district to support site preparation.
The site’s political viability proved crucial to the decision. Unlike Lincoln Yards — a competing North Side location which would have required zoning changes and faced staunch community opposition — The 78 already permits a stadium and presents fewer legal complications.
The plans feature in the Fire’s preparations to exit Soldier Field. The team, whose average home attendance last season was over 21,000, drew a record 62,358 fans for an April fixture against Inter Miami. The Fire’s lease at Soldier Field expires this year, though extensions are planned to buy time for the new build.
is set to privately finance a new £510 million ($650 million) football stadium in the city’s South Loop, marking one of the most ambitious privately funded stadium projects in US soccer history.
The proposed 22,000-seat, open-air arena will be built on a 62-acre vacant site known as ‘The 78’ – a long-dormant land parcel once eyed for Amazon HQ2 and other major developments that failed to materialise. Mansueto, founder of financial services firm Morningstar and one of America’s richest men, aims to open the stadium by 2028.
Describing the venue as “more than just a stadium”, Mansueto said it will become a vibrant hub for “fans of all ages, backgrounds and neighbourhoods,” celebrating football “in the heart of our city.” The plans were announced via a full-page ad in local papers.
While the billionaire is funding construction himself, tens of millions in public infrastructure investment will be needed to ready the land. Developer Related Midwest intends to tap into a previously approved $450 million tax increment financing (TIF) district to support site preparation.
The site’s political viability proved crucial to the decision. Unlike Lincoln Yards – a competing North Side location which would have required zoning changes and faced staunch community opposition – The 78 already permits a stadium and presents fewer legal complications.
The plans feature in the Fire’s preparations to exit Soldier Field. The team, whose average home attendance last season was over 21,000, drew a record 62,358 fans for an April fixture against Inter Miami. The Fire’s lease at Soldier Field expires this year, though extensions are planned to buy time for the new build.
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