Joe Mansueto, the billionaire founder of Morningstar and owner of the Chicago Fire FC, is making waves in the Windy City with an ambitious plan to transform the soccer landscape. On June 3, 2025, the Chicago Fire announced plans to build a $650 million, privately funded soccer-specific stadium in the South Loop’s “The 78,” a 62-acre riverfront development. This bold move, spearheaded by Mansueto, promises to anchor a vibrant new neighborhood while giving the Fire a permanent home. As a Chicago native, his commitment to the city and its soccer fans shines through this monumental project, set to redefine the club’s future by 2028.
A Game-Changer for Chicago Fire
For years, the Chicago Fire have played at Soldier Field, sharing the iconic venue with the NFL’s Chicago Bears. However, scheduling conflicts and commercial limitations have frustrated Joe Mansueto and the club’s leadership. The new 22,000-seat stadium at The 78, located between Roosevelt Road, Clark Street, and 16th Street, offers a solution. Designed with a natural grass field, the open-air arena aims to deliver an electric matchday atmosphere tailored for soccer fans. Mansueto’s decision to personally finance the $650 million project sets him apart from other Chicago sports owners seeking public subsidies, showcasing his dedication to the city’s growth without burdening taxpayers.
Joe Mansueto’s Strategic Vision
Joe Mansueto’s influence extends beyond funding. His strategic approach prioritizes speed and efficiency, with The 78 chosen partly because its zoning already permits a stadium, streamlining the development process. Construction is slated to begin in late 2025 or early 2026, with the goal of opening before the 2028 MLS season. Mansueto envisions the stadium as more than a sports venue—it’s a catalyst for job creation, economic growth, and community engagement. By purchasing 7 to 10 acres of the site from developer Related Midwest, he ensures the Fire’s home integrates seamlessly into the broader vision for The 78 as Chicago’s next great neighborhood.
| Key Project Details | Description |
|---|---|
| Location | The 78, South Loop, Chicago |
| Cost | $650 million, privately funded |
| Capacity | 22,000 seats |
| Construction Start | Fall 2025 or early 2026 |
| Opening | 2028 MLS season |
| Features | Natural grass field, open-air design |
Boosting Chicago’s Soccer Culture
The new stadium represents a turning point for the Chicago Fire, a club that has struggled with attendance and playoff appearances in recent years. Joe Mansueto sees it as the “last piece of the puzzle” to revitalize the team. Since acquiring full ownership in 2019, he has invested heavily, making the Fire a top-five MLS spender on payroll. The move from suburban Bridgeview’s SeatGeek Stadium to Soldier Field in 2020 was a step toward reconnecting with Chicagoans, but a dedicated venue will deepen that bond. Fans can expect a stadium designed for intimacy and excitement, fostering a stronger soccer culture in the city.
A Collaborative Effort
Mansueto’s partnership with Related Midwest, led by CEO Curt Bailey, is key to the project’s success. The developer has long envisioned The 78 as a mixed-use hub, and the Fire’s stadium aligns perfectly with that goal. While the Chicago White Sox have also eyed The 78 for a new ballpark, Mansueto’s project is moving forward independently, with complementary developments like retail and restaurants planned around it. This collaboration highlights his ability to align with stakeholders who share his vision for a thriving, accessible urban space that benefits all Chicagoans.
Looking Ahead
Joe Mansueto’s commitment to privately funding the stadium reflects his belief that public resources should address pressing city needs, not sports facilities. His $7.1 billion fortune allows him to take this stance, but it’s his passion for soccer and Chicago that drives the project. The new stadium promises to elevate the Chicago Fire’s profile, attract top talent, and create a lasting legacy for fans. As construction looms, anticipation is building for a venue that will not only host matches but also become a cultural landmark in the South Loop.
Get ready to cheer for the Chicago Fire in their new home! Share your excitement for the 2028 season and follow updates on this game-changing project.