The ground lease includes an initial 99-year term, followed by 10 separate 20-year renewals at option for Bally's. Then, to raise funds for the project, the casino developer will lease back the land in a ground lease with the investor whose name was not released. Under terms of the deal, a Chicago-based real estate private equity firm will purchase the Tribune Publishing Center site at Chicago Avenue and Halsted Street in the River West neighborhood. It also features a 65,000-sq-ft entertainment center with 3,000 seats, a 20,000-sq-ft exhibition space, outdoor music venue and green space.īally’s closed in November on a $200-million deal to purchase the former Chicago Tribune printing plant.

Its permanent facility, located along the Chicago River, is envisioned to be a casino, entertainment and hotel destination-with 3,400 slots, 170 table games, 10 food and beverage venues and a 500-room hotel tower with rooftop bar. It took the most recent licensee, The Hard Rock Casino Rockford, 16 months for preliminary approval of its casino.īally's wants to open the temporary casino in June 2023. The state allows casinos to operate a temporary facility for up to two years, with the ability to apply for an additional 12-month extension, before opening a permanent location. The project, which would require retrofitting the historic building, has drawn concerns from neighbors about traffic, congestion and crime and safety.

for up to three years while the permanent casino-resort is constructed. Bally's is seeking to operate a temporary casino at the Medinah Temple at 600 N.

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