Chicago Approves $425M TIF for The 78 Infrastructure Megadevelopment

• The Chicago City Council has approved approximately $425 million in Tax Increment Financing (TIF) for infrastructure supporting The 78 megadevelopment.
• The funding will help build streets, utilities, riverfront improvements, public open space, Metra upgrades, and a 1,200-space underground parking garage.
• Developed by Related Midwest, the $8 billion mixed-use project will eventually include up to 10,000 residential units, retail, office, and institutional space anchored by the Chicago Fire's new stadium.

What the TIF Funding Will Support

The Chicago City Council has approved a $424.9 million public infrastructure agreement to help move forward The 78, one of the city's largest planned mixed-use developments. Located on a 62-acre site just south of Roosevelt Road along the South Branch of the Chicago River, the project will transform a long-underutilized section of the South Loop into a new urban neighborhood. The approved TIF funding will reimburse Related Midwest for major public infrastructure improvements, including portions of LaSalle Street, 13th Street, 14th Street, 15th Street, Wells Street, Clark Street, and Roosevelt Road. The agreement also covers upgrades to nearby Metra rail infrastructure, improvements to the river wall, publicly accessible open space, and a 1,200-space below-grade parking structure that will be owned and operated by the City of Chicago. Developer reimbursements will be made over multiple phases of construction through the Roosevelt/Clark and Canal/Congress TIF districts.

What the Full Development Includes

Developed by Related Midwest, The 78 is planned as an entirely new mixed-use neighborhood with an estimated value of $8 billion. At full build-out, the master-planned community is expected to include up to 10,000 residential units, along with retail, office, institutional space, parks, and new riverfront amenities. The development is designed to reconnect an area that has remained largely vacant for decades while expanding Chicago's downtown core. The project's centerpiece will be McDonald's Park, the future home stadium of Chicago Fire FC.

What Progress Has Been Made on McDonald's Park

Construction is already underway on McDonald's Park, the new 22,000-seat soccer stadium for Chicago Fire FC. Designed by Gensler, the stadium officially broke ground in March and has already secured permits covering foundation piles, shallow foundations, tower cranes, and the building's superstructure. The construction team includes Pepper Construction, GMA Construction Group, and All Construction Group. The stadium is scheduled to open in time for the 2028 Major League Soccer regular season, serving as the first completed phase of The 78 redevelopment.

What This Means for Chicago

The approval of nearly $425 million in infrastructure funding represents a major milestone for one of Chicago's most ambitious redevelopment projects. Rather than simply supporting private development, the investment focuses on public improvements that will create the foundation for future housing, businesses, transportation upgrades, and public spaces. As additional phases move forward, The 78 is expected to become one of the city's largest mixed-use neighborhoods, bringing thousands of new residents and significant economic activity to the South Loop.