{"id":1004818667,"date":"2026-11-13T05:26:25","date_gmt":"2026-11-13T13:26:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004818667"},"modified":"2026-11-13T05:26:28","modified_gmt":"2026-11-13T13:26:28","slug":"capri-grit-eye-10b-chicago-district","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capri-grit-eye-10b-chicago-district\/","title":{"rendered":"Capri, GRIT Eye $10B Chicago District"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6af714302ad07&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"2025\" height=\"1519\" data-attachment-id=\"1004818668\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/capri-grit-eye-10b-chicago-district\/bronzeville-lakefront\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg\" data-orig-size=\"2025,1519\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Bronzeville Lakefront\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The commercial portion would include approximately 2,000 hotel rooms, 300,000 square feet of retail and restaurant space and 400,000 square feet of offices. Image courtesy of Capri Investment Group and GRIT Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg\" alt=\"Exterior rendering of Bronzeville Lakefront. A mixed-use stadium district in Chicago.\" class=\"wp-image-1004818668\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg 2025w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Bronzeville-Lakefront.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 2025px) 100vw, 2025px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The district&#8217;s commercial portion would include approximately 2,000 hotel keys, 300,000 square feet of retail and restaurant space and 400,000 square feet of offices.<em> Image courtesy of Capri Investment Group and GRIT Chicago<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Capri Investment Group and GRIT Chicago have unveiled plans for a $10 billion mixed-use district on Chicago\u2019s South Side, centered on a proposed domed stadium for the Chicago Bears.<\/p>\n\n\n\n<p>Known as Bronzeville Lakefront, the project would encompass roughly 100 acres including the former Michael Reese Hospital site and feature more than 11 million square feet of development. Plans call for a stadium with approximately 75,000 seats, alongside hospitality, retail, office, residential, recreation and cultural spaces.<\/p>\n\n\n\n<p>The district&#8217;s commercial portion would comprise approximately 2,000 hotel keys, 300,000 square feet of retail and restaurant space and 400,000 square feet of office space. Plans also call for a 500,000-square-foot youth sports complex, a 400,000-square-foot health and wellness facility and roughly 300,000 square feet of additional convention and meeting space tied to McCormick Place.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/world-cup-impact-on-secondary-cre-markets\/\">How the World Cup Boosts CRE in Secondary Markets<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The property would also feature more than 28 acres of public park space and at least 3,500 parking spaces. Proposed infrastructure improvements include new east-west streets and pedestrian connections, a land bridge over DuSable Lake Shore Drive, a new Metra station at 29th Street and a CTA Green Line station roughly half a mile from the site.<\/p>\n\n\n\n<p>Capri and GRIT are seeking to incorporate the approximately 48-acre former hospital property, the neighboring Prairie Shores apartment complex and proposed air rights above the McCormick Place Marshaling Yard into the larger district. Plans call for demolishing up to 1,000 units at Prairie Shores and building about 1,500 new apartments during Phase 1.\u00a0<\/p>\n\n\n\n<p>GRIT is the joint venture of Farpoint Development, Loop Capital Management, McLaurin Development Partners,\u00a0Chicago Neighborhood Initiatives and Bronzeville Community Development Partnership. The development team also includes AECOM for infrastructure planning, Gardiner &amp; Theobald for cost consulting and Studio Inference for architecture and urban planning. <\/p>\n\n\n\n<p>Financing has not yet been finalized, but developers are considering a mix of private capital and public funding, including Bears lease payments, NFL financing, bonds and tax increment financing. The partners have also signed an agreement with an undisclosed capital provider.<\/p>\n\n\n\n<p>Capri and GRIT estimate the project could generate approximately $14 billion in regional economic activity during development and $1.5 billion annually once operational. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sports-districts-drive-mixed-use-investment\">Sports districts drive mixed-use investment<\/h2>\n\n\n\n<p>The Bronzeville proposal reflects a broader move toward <a href=\"https:\/\/www.commercialsearch.com\/news\/naree-special-report-what-makes-a-sports-district-a-homerun\/\">sports-anchored districts<\/a>, as franchises, cities and developers increasingly surround stadiums with year-round commercial uses rather than stand-alone parking lots. The model also fits wider <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-driving-mixed-use-design\/\">mixed-use development trends<\/a> that combine hospitality, retail, office, residential and entertainment components to create multiple sources of activity and revenue.<\/p>\n\n\n\n<p>Kansas City is pursuing a similar strategy. Last month, the city approved a <a href=\"https:\/\/www.commercialsearch.com\/news\/kansas-city-approves-600m-financing-for-royals-stadium\/\">$600 million financing package<\/a> for the Kansas City Royals\u2019 proposed $1.9 billion stadium, which is planned as the centerpiece of a larger mixed-use redevelopment around Crown Center.<\/p>\n\n\n\n<p>The city\u2019s riverfront is also seeing sports-driven investment. Current Landing, a $1 billion mixed-use district adjacent to CPKC Stadium, is planned with residential, retail, hospitality and public spaces. Developers accelerated portions of the project ahead of the 2026 FIFA World Cup, illustrating how sports venues are increasingly used to anchor broader commercial development rather than operate as isolated assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property would include a 75,000-seat domed stadium alongside hotels, retail and office space.<\/p>\n","protected":false},"author":3355,"featured_media":1004818668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21782,13,21752,21742],"tags":[34615,51608,38322],"class_list":["post-1004818667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-development","category-midwest","category-mixed-use","category-latest","tag-aecom","tag-faropoint","tag-gardiner"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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