CHICAGO — A bold new stadium project in the South Loop could soon transform a dormant section of the city into a vibrant soccer and development hub, as the Chicago Fire FC revealed plans for a privately funded $650 million facility set to anchor the long-awaited neighborhood project known as “The 78.”
Backed by billionaire Joe Mansueto, the team’s owner and founder of the Chicago-based investment firm Morningstar, the proposed stadium will seat 22,000 fans and serve as a community centerpiece for soccer lovers “of all ages, backgrounds and neighborhoods.” According to an ad obtained by the Chicago Sun-Times, the Fire’s new home will be more than just a sports venue — it’s envisioned as a cultural hub that reconnects residents with Chicago’s “beautiful game.”
‘The 78’: A Development Site Long in Limbo
The stadium is slated for construction on a 62-acre tract along the Chicago River, land that’s sat undeveloped for years despite being previously considered for major projects like Amazon’s HQ2. Developers now hope the project breathes life into the area, transforming it into Chicago’s official 78th neighborhood — hence the name.
After multiple stalled attempts to revitalize the land, the Fire’s new stadium is being framed as a potential economic catalyst. The project is being designed by Gensler, a global architecture firm known for its large-scale urban design efforts.
According to NBC Chicago, construction could break ground as early as this fall or early 2026, with the goal of opening in time for Major League Soccer’s 2028 season.
Fully Financed — But Public Help Still Needed For Infrastructure
While Mansueto will cover the stadium’s entire cost, public funding may still be required for infrastructure around the site. These improvements include:
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Relocating railroad tracks
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A rebuilt seawall
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Installation of new water, sewer, and power lines
In an interview with the Chicago Sun-Times, Curt Bailey, CEO of Related Midwest, said they’re considering tax-increment financing (TIF) to help cover these additional infrastructure needs. Bailey also noted the TIF request could be lower than originally anticipated due to revised construction plans and changes in materials cost — some attributed to tariffs enacted during the Trump administration.
Mayor Johnson: A Community-Centered Approach Is Essential
Mayor Brandon Johnson voiced cautious optimism for the stadium’s impact. In statements published by the Chicago Sun-Times, Johnson emphasized the importance of integrating community voices into the final plan:
“It’s too early to say what the final deal might look like,” he said, “but continued conversations with the Fire and the community will be integral.”
The mayor also acknowledged the potential for jobs and economic development, while urging transparency and fairness around any public contributions to the project.
A Boost for the Fire — And for Chicago
If completed, the stadium could become one of the most ambitious privately financed sports projects in city history. It would also mark a new chapter for the Chicago Fire FC, which currently plays at Soldier Field. Team officials say the new location offers a more soccer-specific venue, allowing for enhanced fan experiences and neighborhood engagement.
Do you think public funding should support infrastructure around the new stadium — or should it remain 100% private? Share your thoughts in the comments below on ChicagoSuburbanFamily.com.
