### Chicago Fire Unveil $650 Million Soccer Stadium Plan for South Loop Development

After nearly ten years of ambitious yet unrealized projects, including a recent failed attempt for a new White Sox ballpark, The 78 and its developer, Related Midwest, seems to have finally secured a transformative anchor tenant for their proposed megadevelopment in the South Loop. On Tuesday, the Chicago Fire announced plans for a privately financed $650 million soccer stadium at the 62-acre site along the Chicago River and Roosevelt Road.

Fire owner Joe Mansueto, who took over the team in 2019, celebrated the announcement, saying the new stadium will be a "world-class home" for the team and could turn the largely vacant area into a bustling South Side Wrigleyville. Designed by architectural firm Gensler, the 22,000-seat open-air stadium will feature a natural grass pitch, a variety of seating options, including club seats and luxury suites, and aims to create an intimate setting for fans on match days. Pending city approval, construction could start as early as this fall with a targeted completion ahead of the 2028 MLS season.

Curt Bailey, president of Related Midwest, emphasized the long-term vision for The 78—an ambitious plan to develop the area into Chicago’s 78th neighborhood. Despite failing to secure big projects in the past, such as Amazon’s second headquarters or a new Chicago casino, Bailey believes the Chicago Fire stadium could be the catalyst they've been seeking.

Joe Mansueto, a 68-year-old self-made billionaire and founder of investment research firm Morningstar, argued that sports teams should bear the costs of their stadiums, emphasizing that most of the benefits accrue to the team. His commitment extends beyond the new stadium; the Fire recently opened a $100 million training facility 2 miles west of The 78.

The Fire’s move to the new stadium coincides with recent shifts in Chicago’s sports landscape, with the Bears likely departing for a new stadium in Arlington Heights and the White Sox eyeing a new home. MLS Commissioner Don Garber praised Mansueto's efforts, calling the project one of the most ambitious in MLS history.

Previously, the Fire played at Soldier Field, recording an attendance high of 62,358 fans in April for a match against Inter Miami and Lionel Messi. Mansueto stressed the importance of the team being located within the city, reflecting his broader commitment to both the Fire and Chicago.