Tag / The 78

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The Railyards

Canal Edge, a Chicago-based developer led by future White Sox owner Justin Ishbia, used the lucrative Saturday morning of Labor Day weekend to release plans for a potential new stadium as part of a larger development across the Chicago River from the South Loop neighborhood known as The 78.  The site, currently a maintenance yard for Amtrak, was purchased by Ishbia’s private equity firm earlier this year.

Calling the space The Railyards, a new White Sox stadium would join a previously announced healthcare complex.  The stadium would sit alongside the river, stretching from Roosevelt Road in the north to 18th Street in the south, and bordered with the river on its east side and Canal Street to its west.  McDonald’s Park, the new stadium under construction for the Fire, would sit directly across the river.

In a statement, Canal Edge noted it is “currently beginning a multi-month study and feasibility review evaluating a range of factors from transportation to environmental impact. If feasible, this plan could be presented to Chicago White Sox leadership for consideration as one of the team’s ballpark options when its current lease in the state-owned ballpark ends.”  The team’s lease with the Illinois Sports Facilities Authority for Rate Field ends following the 2029 season, which just happens to be the first year Ishbia could contractually buy out current White Sox owner Jerry Reinsdorf and take full control of the franchise.

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On The Move?

News broke last night that the White Sox are in “serious” discussions with developers and the city of Chicago about the possibility of building a new stadium on the South Loop parcel known as “the 78.”  The lot is located on the corner of Roosevelt Road and Clark Street, about three miles north of the team’s current home on 35th Street.  In a joint statement from Chicago mayor Brandon Johnson and White Sox chairman Jerry Reinsdorf said, “We met to discuss the historic partnership between the team and Chicago and the team’s ideas for remaining competitive in Chicago in perpetuity.”

The team’s current lease at Guaranteed Rate Field runs through 2029.  Last summer, news broke that Reinsdorf was considering selling the team and/or moving them to a new location, either elsewhere in Chicago, the suburbs, or Nashville, Tennessee, when that lease expires.  Will anything come of this?  Potentially.  A new stadium on the river would (or could) provide a spectacular backdrop with views of the downtown skyline and, with the Bears looking to move to Arlington Heights, I can imagine the city would not want to lose another team.  I still believe the most likely outcome is a new lease at Guaranteed Rate Field, but time will tell.