Chicago City Council approved $424.9 million in tax increment financing for The 78 on July 15, 2026. That money pays for the streets, the river wall, Metra track work, open space and a 1,200-space below-grade parking structure that the City of Chicago will own and operate. It does not pay for a CTA Red Line station at 15th and Clark. WTTW reported two days before the vote that records show those plans had been dropped.
For a buyer looking at a condo along Wells, Clark, Dearborn Park or Printers Row, that one change matters more than anything in the renderings. The Chicago Fire's 22,000-plus-seat stadium is expected to open ahead of the 2028 MLS season and will also host concerts, international matches and community events. Under the plan that's actually funded, a large share of those crowds arrive by car, park under a podium and leave on new streets. The 10,000 homes that are supposed to turn the site into a neighborhood have zoning approval but no start date.
What the money buys, and when
The approved package comes in two pieces. Block Club Chicago reported that $174 million covers utilities and roadways, and $250 million builds a "podium" holding the 1,200-space city-owned garage, with a public plaza on top. WTTW reported that the Fire will lease the garage on game days.
| Item | Status | Timing |
|---|---|---|
| Fire stadium, privately financed | Under construction; two tower cranes up by Sept. 23 | Ahead of the 2028 MLS season |
| Podium with 1,200-space city-owned garage and plaza | Funded July 15, 2026 | Slated for 2028 |
| Elevated Roosevelt Road linking to Clark via LaSalle and 13th | Funded | Part of the infrastructure package |
| Internal street grid from 14th to 15th | Funded | Part of the infrastructure package |
| Pedestrian crossing over the Metra tracks at 15th | Funded | Once the stadium is fully operational |
| Temporary sports courts and pickleball between the Riverwalk and Wells | In plan | Until the Riverwalk is finished |
| Red Line station at 15th and Clark | Dropped | None |
| Up to 10,000 homes | Allowed under the redevelopment plan | No start date announced |
The stadium is the one item on that list you can see going up. By mid-August, Chicago YIMBY reported stepped concrete seating and columns rising along the bowl's west and south sides. By late September, construction was moving from the river side toward Clark Street.
The garage drew the most opposition on Council. Ald. Pat Dowell (3rd), who chairs the finance committee, told Block Club that the podium is the main investment because it brings the site up to grade and carries the roads and future buildings, and that the garage fills space underneath that would otherwise sit empty. Ald. Bill Conway (34th) supported the roadway funding and voted against the garage piece. Both measures passed.
Why the station came out
A Red Line stop at 15th and Clark had been part of The 78's planning for years. A 2019 Plan Commission amendment even proposed moving the station into the development, west of Clark.Streetsblog Chicago reported in August 2025 that when the stadium plan arrived, the team cited cost and the 2028 opening target as reasons to abandon the station. The city's current project page lists the infrastructure categories now being reimbursed. They are open space, roads, Clark Street, the river edge, Roosevelt Road, $36 million in Metra improvements and a Clark Street pedestrian connection. A CTA station isn't on the list.
Follow the incentives and the result makes sense. The Fire is paying for its own $750 million stadium and needs it open by 2028. A new rail station is slow and expensive, and it doesn't control its own schedule. A garage under a podium the site needs anyway can be finished on the stadium's timeline, and the city keeps the parking revenue. The infrastructure that got funded is the infrastructure that could be ready on opening day.
For a condo owner nearby, that means the stadium adds a destination to the South Loop without adding a new train station. Transit access near The 78 stays whatever it is today.
Game day, as currently drawn
The most detailed event-day plan on the public record is still the Fire's June 2025 presentation, posted by the 3rd Ward office. It came before the July 2026 vote, so treat it as a proposal, not an operating plan. It described:
- Game-day coordination with CDOT, OEMC and CPD
- Reversible lanes and traffic-control staff at key locations
- Increased CTA operating capacity on existing service
- Divvy stations, secure bike parking and a bike valet
- A rideshare lot, the public garage and surface parking along Wells Street
- Sections of Wells and 13th Street closed during events
The last item matters most for people who live there. If you're looking at a unit with garage access onto Wells, or a townhome near 13th, the event calendar becomes part of your daily routine. That calendar includes concerts and international matches as well as MLS dates. The final street plan hasn't been published yet, so ask for it before you assume your building's driveway stays open on event nights.
The homes have zoning, not a calendar
The city's redevelopment plan for The 78 allows up to 10,000 residential units, along with retail, office and institutional uses, in later phases. Related Midwest said after the vote that 20 percent of units would be set aside as affordable. The project's own site calls the stadium the anchor of the first phase and says details on other uses will come later.
So the stadium arrives with garages, streets and a plaza. The groceries, cafés and front doors that make a place feel lived-in come later, on a schedule nobody has published.
The new homes already under construction or approved nearby are rentals just north of the site:
- 1010 S. Wells, the first Riverline tower. By Sept. 25 it was working on its 20th floor and installing glass, with nearly 400 apartments. The Real Deal reported in March that CMK landed an $83 million construction loan for the 388-apartment project.
- 910 S. Wells, the second Riverline tower. Plans approved in 2025 call for 350 apartments, about 3,300 square feet of retail, a riverfront terrace and 137 parking spaces. It's expected after 1010 S. Wells, with no construction timeline set.
- 626 S. Wabash, a 19-story, 164-unit building. In January, Chicago YIMBY expected it to open this fall.
Rental supply like this is what an investor buyer competes with when leasing out a South Loop condo near the river. It will reach the market well before The 78's for-sale or rental homes do.
Across the river there's a second stadium idea. Canal Edge, the company led by Justin Ishbia, who has an agreement to buy the White Sox in 2034, released renderings on Saturday, Sept. 5, for "The Railyards" at Amtrak's 48-acre 14th Street Coach Yard, 432 W. 14th St. Block Club reported that the company is only beginning a feasibility study covering transportation and environmental review. The team's lease at Rate Field runs through 2029. For now, treat it as a rendering, not a plan.
Pricing a condo within walking distance
Citywide, the market is still tight. Illinois REALTORS data for September 2026, current as of Oct. 7, shows 633 Chicago condo sales, down 5.7 percent from a year earlier. The median condo price was $375,000, up 6.7 percent, and total inventory across all property types fell 20.9 percent to 3,788 homes. Those are city figures, not South Loop figures. When buyers compete for fewer listings, a sales pitch built on what's coming nearby can easily get folded into the asking price.
When you look at a unit near Wells, Clark, Roosevelt or 15th, separate the parts of the pitch that are dated from the parts that are only drawn:
- Dated: a 2028 stadium, a 2028 podium and plaza, the Roosevelt-to-Clark connection, the 14th-to-15th street grid
- Promised for later: the Metra-track pedestrian crossing at 15th, once the stadium is fully operational, and the finished Riverwalk
- Undated: the 10,000 homes, the retail that would come with them, and anything at the Railyards
- Off the table: the Red Line station at 15th and Clark
Your commute and your evenings depend on the first group. The second and third groups describe what the area might become.
Quick answers
Is there any new CTA station planned for The 78?
Not in the funded plan. WTTW reported in July 2026 that plans for a Red Line station at the southwest corner of 15th and Clark had been dropped.
Who owns the stadium garage?
The City of Chicago will own and operate the roughly 1,200-space below-grade structure. The Fire will lease it on game days, according to WTTW.
When does the public open space open?
Block Club reported that the podium and plaza are slated for 2028, timed to the stadium opening. Temporary sports courts and pickleball are planned between the Riverwalk and Wells until the Riverwalk is finished.
If you own near The 78 and want to know how a buyer will price your unit against the 2028 build-out, or you're weighing a South Loop condo against the West Loop or Streeterville, talk to Matt Laricy. We'll go through each building's street access, event-day exposure and nearby rental competition before you set a price or make an offer. Start with a home valuation and list with Laricy to sell faster and reach more buyers.
