Chicago Mayor Brandon Johnson has put forward a proposal to direct $425 million in Tax Increment Financing support to The 78, a major mixed-use development that includes plans for a Chicago Fire soccer stadium. The public funding would be used to help underwrite infrastructure and related improvements tied to the site, shifting a portion of the project's cost from private to public sources.
The plan, described as $424.9 million in TIF assistance, is structured as reimbursement to the project's developer, Roosevelt/Clark Partners LLC, for eligible construction expenses. While The 78 was originally positioned as a privately financed undertaking, Johnson's proposal would bring a substantial layer of public participation to the project's infrastructure package. Roosevelt/Clark Partners LLC is led by Related Midwest, a major development firm active in Chicago.
The 78 site is located between Chinatown and the South Loop, an area that has remained largely undeveloped despite its proximity to central Chicago neighborhoods. Construction activity is already underway on the property, indicating that early phases of site work and vertical development have begun in advance of, or in parallel with, the latest TIF proposal.
If approved, the TIF backing would help fund the creation of a new neighborhood district around the planned soccer stadium. The support is expected to cover infrastructure elements and a large city-owned parking facility intended to serve both stadium patrons and the broader mixed-use environment. The emphasis on infrastructure and public facilities aligns the TIF deployment with traditional district-improvement objectives rather than direct building subsidy.
The full build-out of The 78 is envisioned as a large-scale, multiyear effort. Future phases are planned to include up to 10,000 residential units, along with retail, office, and institutional space. The total project cost is cited at $8 billion, positioning The 78 as one of the more ambitious development undertakings in the city. The combination of housing, commercial space, and civic or institutional uses is intended to create a new urban district rather than a single-use complex.
The development is being carried out on a site that has been vacant for roughly half a century. Before lying fallow, the land was used as a rail yard, reflecting the area's historic role in Chicago's transportation and industrial network. The long vacancy underscores both the scale of the redevelopment challenge and the potential impact of transforming a dormant rail-related parcel into an active mixed-use community anchored by a professional sports venue and supported by significant infrastructure investment.
