There are 77 official community areas in Chicago. Related Midwest wants to make it 78 — and after two years of walking buyers and sellers through neighborhoods across this city, I couldn't resist heading down to the South Loop myself to see it in person. Here's what I found, and what it means if you're thinking about buying nearby.
What Is The 78, Exactly?
The 78 is a 62-acre riverfront development along a half-mile of the Chicago River in the South Loop, built by Related Midwest on former rail yard land. It's designed to connect the Loop, Chinatown, Bronzeville, Bridgeport, Pilsen, and the UIC/Little Italy area into one walkable riverfront district — which is where the "78th neighborhood" name comes from.
- Size: 62 acres along the Chicago River
- Developer: Related Midwest
- Location: South Loop, near Roosevelt Road and the river
- Bordering areas: South Loop, Chinatown, Bronzeville, Bridgeport, Pilsen, UIC/Little Italy
- Anchor project: Chicago Fire FC's new privately funded stadium
The Chicago Fire Stadium: The Project's Biggest Headline
In March 2026, Chicago Fire FC broke ground on a $750 million, 22,000-seat soccer stadium at the north end of The 78. It's privately funded by owner Joe Mansueto, with no taxpayer dollars involved, and it's targeting an opening in time for the 2028 MLS season. It's the first phase of the master plan and the piece most likely to change how quickly the rest of the neighborhood fills in.
What Else Is Coming to The 78
Beyond the stadium, Phase One includes an innovation center for the University of Illinois System's Discovery Partners Institute, the Wells-Wentworth Connector — a pedestrian- and bike-friendly path linking the Loop to Chinatown — plus roughly 1.5 million square feet of office space, 700,000 square feet of residential space, and 100,000 square feet of retail, dining, and fitness. Longer term, plans call for a future CTA Red Line stop at Clark and 15th and up to 10 million square feet of additional development, with projections of more than 5,000 new homes.
Quick facts
- Phase One office space: ~1.5 million sq ft
- Phase One residential space: ~700,000 sq ft
- Phase One retail/dining/fitness: ~100,000 sq ft
- Future transit: proposed CTA Red Line infill stop at Clark/15th
- Long-term buildout: up to 10 million sq ft, 5,000+ homes
What This Means If You're Buying Nearby
Big infrastructure projects tend to move home values before they're finished, not after — and market analysts have pointed to a two-to-four-year window between a project's groundbreaking and the point where its full value gets priced into the neighborhood around it. With the stadium now under construction, that window is open right now for South Loop buyers.
I recently toured The Reed at Southbank, a 41-story tower at 234 W. Polk St. that sits right next to The 78 site — walkable to the future stadium, the river, and everything in between. It's a good example of the kind of new construction already going up around this project, with condos priced from the low $400,000s. I'll be writing more about it soon.
"I keep everything updated and I try to keep people calm, even during craziness — and buying near a project this size can feel like a lot. My job is to help you understand the timeline clearly enough to make a decision you feel good about."
Frequently Asked Questions
Is The 78 an official Chicago neighborhood?
Not officially — Chicago recognizes 77 community areas. Related Midwest has branded the development "The 78" as an aspirational name for the district it's building, and it may eventually be recognized informally the way other developer-branded areas have been.
When will The 78 be finished?
Phase One, including the Chicago Fire stadium, is targeting completion around the 2028 MLS season. The full 62-acre buildout, including future residential and commercial phases, is expected to continue well beyond that.
Can I buy a home in The 78 right now?
Not directly on the development parcel itself yet — that land is still under construction. But neighboring buildings like The Reed at Southbank are already selling homes within walking distance of the site, which is where most buyers are looking today.
Will living near the stadium be noisy or crowded on game days?
That's a fair question, and one worth asking before you buy. Stadium neighborhoods typically see increased activity on match days and quieter periods the rest of the time — it's worth touring in person and talking through the tradeoffs before deciding if it's the right fit for your lifestyle.
Let's Talk About Whether The 78 Is Right for You
Whether you're curious about buying near The 78 today or want to keep an eye on it as it develops, I'm happy to walk through what I've learned and what to watch for next. I'm not here to rush you into anything — just to help you make sense of a project this size at your own pace.
