After years of attempts to spark development in the South Loop, The 78 and developer Related Midwest may have finally secured an essential tenant to ignite their ambitious project.
On Tuesday, the Chicago Fire revealed plans for a privately financed $650 million soccer stadium, set to rise on the 62-acre site along the Chicago River at Roosevelt Road, which has remained largely vacant.
This new home is expected to provide the Fire with a ‘world-class venue’ and transform the underutilized site into a vibrant area reminiscent of Wrigleyville for the South Side.
Joe Mansueto, the Fire’s owner, expressed his excitement over the project, saying, “It’s transformative for the club, and I think for the city as well.” Mansueto, who purchased the team in 2019, is also the founder of Chicago-based investment research firm Morningstar.
The proposed stadium, designed by Gensler, will feature an open-air design accommodating 22,000 spectators and will include a natural grass pitch, diverse seating options, and a more intimate atmosphere for fans.
Pending city approval, groundbreaking on the stadium could begin as soon as this fall, with plans for it to be completed ahead of the 2028 MLS regular season.
Currently, the Fire plays at Soldier Field under a newly signed three-year lease extension, which has seen the 61,500-seat venue often less than half full during games.
Mansueto emphasized that the new stadium will provide a better match day experience, stating, “I think we should sell out every game. We want to create this unrivaled match day experience.”
The 78 development, which has experienced various setbacks since Related Midwest acquired the site in 2016, aims to create a comprehensive residential, retail, and commercial area that will establish the area as Chicago’s 78th neighborhood.
Historically, The 78 has competed for high-profile projects, including Amazon’s second headquarters and a Chicago casino, but finding a viable anchor tenant has proved elusive.
A notable recent attempt included a proposal from the White Sox for a publicly financed ballpark, which fell short when state lawmakers rejected a $1 billion funding plan.
With the Fire’s involvement, Related Midwest President Curt Bailey remarked, “All of our preparation, all of our work, all of our disappointment, got us to the perfect place where we met with Joe and the Fire, and it was a great match.”
Importantly, the new Fire stadium will not require public financing, addressing one of the most significant barriers to constructing a sports facility in recent years.
Mansueto believes that sports teams should finance their own stadiums, highlighting that the primary benefits accrue to the teams themselves.
“It is my belief that these stadiums should be privately financed. Most of the value accrues to the sports team. So it’s only fair that the sports team shoulders the cost of its construction,” he stated.
Beyond the stadium, the Fire recently opened a new $100 million training facility two miles away on a previously vacant site of the Chicago Housing Authority.
With the Chicago Bears potentially moving to a new stadium in Arlington Heights and the White Sox searching for a new home, the Fire aims to solidify its presence in Chicago and grow its fan base.
“Joe Mansueto isn’t just building a soccer stadium — he’s reshaping the future of soccer in Chicago,” stated MLS Commissioner Don Garber.
He described the planned stadium as “one of the most ambitious stadium projects in Major League Soccer history,” reflecting Mansueto’s substantial commitment to the team and the city.
The Fire has faced challenges in building a robust following among Chicago sports enthusiasts throughout its 27-year history, despite initially winning the league championship in 1998.
The team moved from Soldier Field to the now SeatGeek Stadium in Bridgeview in 2006 but returned to Soldier Field following Mansueto’s purchase of the team and a lease buyout.
At Soldier Field, the Fire established a record attendance of 62,358 during an MLS match against Inter Miami and superstar Lionel Messi earlier this year.
Despite the historical significance, Soldier Field, with a seating capacity of 61,500, presents challenges as one of the largest venues for soccer in the U.S. — often resulting in two-thirds of seats unfilled for Fire matches.
In contrast, the new stadium, with its capacity of 22,000, is expected to create an electric atmosphere, encouraging fans and enhancing the overall experience.
“Having a completely full stadium, intimate, everybody’s close to the pitch… should just be an awesome experience for our fans,” Mansueto professed.
His vision extends beyond just soccer matches, as the new stadium is expected to host concerts and events, keeping it active year-round.
Currently, stadium naming rights are being pursued to offset costs, a typical strategy for capitalizing on new sports facilities.
The MLS franchise values continue to rise due to partnerships like the recent agreement with Apple TV+, averaging around $690 million across clubs.
However, the Chicago Fire, valued at $530 million, remains near the bottom compared to its MLS counterparts.
Mansueto is optimistic that the new stadium will positively impact the franchise’s value, stating, “I think one of the things that has restrained the value of the club is not having our own stadium.”
The realization of the stadium project is crucial for both the Fire and The 78 development, which envisions retail, residential spaces, gathering areas, and a half-mile riverwalk that have yet to materialize.
Additionally, the recent deterioration of partnerships and plans, such as the cancellation of the Discovery Partners Institute project, reflects ongoing challenges for The 78’s evolution.
For the last couple of years, The 78 has been used for winter storage of concrete barriers for the NASCAR Chicago Street Race course.
Recently, some pop-up activities have begun, including pickleball courts and a mini soccer pitch for recreational use.
The anticipation grows for when the Fire stadium will become reality, potentially invigorating the area with thousands of fans arriving for matches, using various transportation options.
Bailey envisions the atmosphere becoming akin to Wrigleyville during Cubs games, filled with festive energy from fans enjoying the neighborhood’s retail and dining options.
“We will try to recreate that energy, that housing surrounding a great stadium, and I think it’s going to be a game changer for this part of the city,” he asserted.
While the stadium is pre-approved for use, the Chicago Fire must still achieve city council approval to move forward.
Community engagement will be key, as indicated by Ald. Pat Dowell’s scheduled community meeting to discuss the stadium plans.
Mansueto is confident that the project will gain support from both city officials and the local community, coinciding with the growing enthusiasm for soccer in Chicago.
Mayor Brandon Johnson echoed the positive sentiment regarding the Fire’s plans, noting the potential benefits for city residents.
As the Chicago Fire gains momentum, ongoing national interest in soccer, including events like the Premier League’s Summer Series and record attendance at related fan events, contribute to the optimism around the sport in Chicago.
Mansueto, a self-made billionaire and passionate advocate for soccer—fostering his interest while coaching his children—sees the stadium project as a crucial step in elevating the Fire both competitively and in terms of community engagement.
With recent changes within the team, including hiring Gregg Berhalter as head coach, there’s hope that the combination of a new stadium and increased competitiveness will resonate with the local fan base.
Mansueto concluded optimistically, “I think the stadium will provide the catalyst to create that tipping point and really elevate the club and make the Chicago Fire and soccer popular.”
image source from：https://www.chicagotribune.com/2025/06/03/chicago-fire-new-soccer-stadium/
