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Joe Mansueto Of Chicago Fire FC Acquires Development Site In South Loop For $650 Million

Property Image
SOLD
$650,000,000
Joe Mansueto
Curt Bailey

Illinois

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Development Site
Sold 06/03/2025
the dealplayerscompscontact
Property Image
SOLD

Joe Mansueto Of Chicago Fire FC Acquires Development Site In South Loop For $650 Million

Development Site
Sold 06/03/2025
Joe Mansueto
Curt Bailey
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Sale

The asset involved in this transaction is a development site located south of Roosevelt Road between Clark Street and The Chicago River in Chicago. The property spans nearly 10 acres and is being sold for $650,000,000, earmarked for a new 22,000-seat soccer stadium. The anticipated completion of the stadium is by 2028, pending City Council approval.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $650,000,000
  • Buyer: Joe Mansueto - Chicago Fire FC
  • Seller: Curt Bailey - Related Midwest
  • Date: 06/03/2025

Joe Mansueto, the owner of Chicago Fire FC, aims to establish a new sports and entertainment hub in the city’s future 78th neighborhood without any public funding, seeking full private control over the venue. This operational focus highlights the commitment to enhance local sports infrastructure and community engagement in the South Loop area.

Players

Joe Mansueto
Joe Mansueto
5 deals$773M volume
BUYER
Curt Bailey
Curt Bailey
3 deals$1.2B volume
SELLER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Curt Bailey & Joe Mansueto DATE: 06/03/2025 ADDRESS: South of Roosevelt Road between Clark Street & The Chicago River MARKET: Chicago ASSET TYPE: Development Site ~ ACRES: 10 BUYER: Joe Mansueto - Chicago Fire FC SELLER: Curt Bailey - Related Midwest (@Related_Midwest) PRICE: $650,000,000 NOTE: Joe Mansueto, owner of Chicago Fire FC, is under contract to buy nearly 10 acres in the South Loop for a $650 million, 22,000-seat soccer stadium, aiming to break ground early next year and open by 2028 pending City Council approval. The stadium will anchor the city’s future 78th neighborhood, creating a new sports and entertainment hub with no public funding involved, as Mansueto seeks full private control over the venue.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$34,666,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,309,312.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,081,331.61
Annual Debt Service$36,975,979.37