News

https://www.sportsbusinessjournal.com/Articles/2024/11/25/chicago-project-1901 By Bret McCormick The Chicago Plan Commission approved the 1901 Project, the United Center Joint Venture’s $7B, 55-acre mixed-use development project that would fill in the acres of parking lots surrounding the Bulls and Blackhawks’ shared arena, during its Jan. 16 meeting. The project’s next steps are the zoning committee (with a meeting likely mid-February), and then…

https://www.sportsbusinessjournal.com/Articles/2024/11/25/chicago-project-1901 By Bret McCormick For months, the team developing the 1901 Project — a proposed $7 billion, 55-acre mixed-use neighborhood that would replace parking lots surrounding Chicago’s United Center — debated how much park space to include in the development. In the real estate world, the park space decision has traditionally hinged on whether making a dollar today…

https://www.chicagobusiness.com/politics/united-center-project-could-benefit-tif-extension Mayor Brandon Johnson wants to extend a special taxing district that could be a boon for future development on the city’s West Side, including the massive 1901 project surrounding the United Center, but will bottle up property tax growth in the area for another 12 years. Johnson introduced an ordinance this week to extend…

https://www.chicagotribune.com/2024/07/31/opinion-united-center-development-cta-train-line/ It’s hard to remember a Chicago real estate proposal that made a better first impression than the Wirtz and Reinsdorf families’ proposal to create a new neighborhood around the United Center. The media, usually skeptical of big developments and developers, embraced the project immediately. Ald. Walter Burnett Jr., 27th, said he was excited by…

https://www.chicagobusiness.com/commercial-real-estate/united-center-south-works-quantum-plans-may-fuel-investment For years, Chicago planning officials have labored to kickstart real estate development in disinvested South and West side neighborhoods, chipping away at one publicly-subsidized apartment building, one retail project, one community center at a time. Now, two massive proposals and billions of dollars in new investment stand to supercharge their effort. The challenge is…

https://abc7chicago.com/post/united-center-owners-7b-investment-pitch-includes-hotels/15085340/ The owners of the United Center pitched a $7 billion plan, called the 1901 Project, to upgrade the Near West Side neighborhood. The 1901 Project, which is named for the United Center’s street address, is being sold as a transformational multi-billion-dollar neighborhood investment that would change the face of the entire area surrounding the…

Plans call for a music hall, housing, park and pedestrian-friendly spaces as part of a 10-year development project that could start as early as 2025. https://chicago.suntimes.com/real-estate/2024/07/23/united-center-reinsdorf-wirtz-1901-project-housing-entertainment-hall-retail-campus-arena The owners behind the United Center announced on Tuesday that the parking lots and area surrounding the United Center will be replaced by a $7 billion mixed-use district —…