Phase 1 Revealed for $20 Billion Chicago Megaproject

Plans for One Central, a proposed megadevelopment that would add 22.3 million square feet of buildings to the city of Chicago, are taking shape.

October 19, 2021, 5:00 AM PDT

By James Brasuell @CasualBrasuell

Soldier Field

Soldier Field could soon have a very expensive neighbor, whether or not the Chicago Bears stick around. | marchello74 / Shutterstock

Developer Landmark released plans for the $20 billion "One Central" development in 2019, but the project still requires approval from both the city and the state. Landmark President Bob Dunn is quoted in the article saying he expects to submit a zoning application later this fall.

In the meantime, Landmark recently revealed details for the project’s first phase: "a transit center surrounded by roughly 1.4 million square feet of retail, dining and entertainment space on a 35-acre site above the train tracks near Soldier Field."

Lauren Zumbach reports for the Chicago Tribune on the new details of the megaproject.

"Renderings show the transit center would connect to a roughly 400,000-square-foot 'Experiential District,' with a 50,000-square-foot event floor meant to host programs like community celebrations, game-day tailgates, corporate events or exhibitions accompanying conventions at McCormick Place," adds Zumbach to the summary above.

Landmark has dubbed phase one of the project the "Civic Build," estimating a price tag of $3.8 billion and including a 275,000-square-foot "Neighborhood District" north of the transit hub and a 310,000-square-foot "Lifestyle District" focused on health and wellness—in addition to the "Experiential District."

More details on the proposed development, its political prospects, and its financing mechanisms are included in the source article linked below.

The article also includes a quote from Dunn regarding one fo the big questions of the day for Chicago and, in particular, Soldier Field. While the Chicago Bears recently signed a purchase agreement for Arlington International Racecourse, potentially starting the process of an exit of the team for more suburban climes, Dunn says the team's future plans will not impact the proposed development program of One Central.

Monday, October 18, 2021 in Chicago Tribune

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