The 78’s $425M Infrastructure Funding Is Now Approved in Chicago’s South Loop
McDonald's Park | Chicago Fire FC/Gensler
CHICAGO - One of Chicago’s largest redevelopment sites just cleared a major public infrastructure milestone.
On July 15, 2026, Chicago City Council approved an amended public infrastructure agreement for The 78, authorizing up to $424.9 million in Tax Increment Financing support for eligible construction costs tied to the 62-acre former rail yard near Roosevelt Road and Clark Street.
This is an important update from earlier this summer, when the funding package was still moving through the approval process. The proposal is now approved, giving the long-planned South Loop megaproject a clearer path toward the roads, riverfront work, transit improvements, public spaces, and access upgrades needed to support future development.
What Was Approved?
McDonald's Park | Chicago Fire FC/Gensler
The approved TIF funding will reimburse Roosevelt/Clark Partners LLC, led by Related Midwest, for eligible public infrastructure costs connected to The 78.
The approved infrastructure package includes:
Improvements to portions of LaSalle Street
New or upgraded sections of 13th, 14th, and 15th streets
Improvements to portions of Wells Street, Clark Street, and Roosevelt Road
Upgrades to on-site Metra tracks
River wall improvements along the South Branch of the Chicago River
An approximately 1,200-space below-grade parking structure
Publicly accessible open space
Pedestrian connections throughout the site
The parking structure is expected to be owned and operated by the City of Chicago.
The approved funding will come from the Roosevelt/Clark TIF district, including ported funds from the Canal/Congress TIF district, with reimbursements occurring in phases as construction advances.
Why This Approval Matters
The 78 Chicago Infrastructure Plan | Gensler
The 78 has been discussed for years because of its size, location, and potential to reshape the Near South Side.
The site has been vacant for approximately 50 years and was previously occupied by rail yard uses. Its location is valuable, but complicated. It sits between the South Loop, Printer’s Row, Chinatown, Pilsen, the Chicago River, and downtown, but the land needs major infrastructure before it can function like a connected neighborhood.
That is why this approval matters.
The roads, riverfront improvements, bridge connections, open spaces, and Metra upgrades are not just supporting pieces. They are the foundation of the project. Without them, future buildings, retail, public space, and stadium access would be much harder to deliver.
How This Connects to McDonald’s Park
McDonald's Park | Chicago Fire FC/Gensler
The most visible anchor at The 78 is McDonald’s Park, the privately financed stadium planned for Chicago Fire FC.
The stadium broke ground this spring and is expected to open in 2028. It is planned with more than 22,000 seats for soccer matches and additional capacity for concerts and special events.
The approved TIF funding does not directly pay for the stadium itself. Instead, it supports the public infrastructure around the site, including the roads, access points, public spaces, rail improvements, and parking infrastructure needed to help the stadium and future phases function.
That distinction matters for residents and buyers following the project. The stadium may get the headlines, but the public infrastructure is what could unlock the broader neighborhood impact.
The Takeaway
The approval of up to $424.9 million in TIF support is a major milestone for The 78 and the Near South Side.
The funding will support the public infrastructure needed to help transform a long-vacant 62-acre former rail yard into a connected mixed-use district with roads, riverfront improvements, open space, Metra upgrades, pedestrian connections, and a city-owned parking structure.
For the South Loop, this is one of the most important development updates of 2026.
The stadium may be the most visible anchor, but the infrastructure is what could determine how The 78 functions as a neighborhood. For buyers, sellers, and investors, this approval is a clear sign that one of Chicago’s biggest long-term redevelopment stories is moving forward.
Looking to Buy Near Chicago’s Next Major South Loop Development?
Browse available condos, lofts, and homes near South Loop, The 78, Roosevelt Road, Museum Campus, Chinatown, and the Chicago River, or connect with the Cory Tanzer Group at Option Premier for expert guidance on Chicago neighborhoods shaped by transit, riverfront access, major development, and long-term lifestyle value.
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