Future White Sox owner poised to buy South Loop railyard for potential stadium

Future White Sox owner Justin Ishbia’s private equity firm Shore Capital Partners is in the process of buying a 47-acre Amtrak rail yard near the southwest corner of the Loop. The sale could enable a mixed-use development that would potentially be anchored by a new ballpark for the Chicago White Sox along the South Branch of the Chicago River.

Back in June, Ishbia and Jerry Reinsdorf, the current owner of the Chicago White Sox, announced an agreement that would give Reinsdorf the option to sell his controlling stake in the franchise between 2029 and 2033, with the option to by becoming Ishbia’s decision after the 2034 season. Ishbia currently has a minority stake in the team but is already making moves to tee up the franchise for a new stadium.

Previous plans envisioned a new stadium at The 78, which fell flat after proposing significant public subsidies. Joe Mansueto, owner of the Chicago Fire FC swooped in to get first dibs on space at The 78 for his new soccer stadium for the Chicago Fire, which just recently celebrated is groundbreaking. While there have been discussions about the potential for the Chicago White Sox to add their stadium next to the Chicago Fire stadium, 3rd Ward Alderman Dowell has expressed her opposition to the massive site becoming home to two stadiums. 

As Shore Capital Partners finalizes a deal for the Amtrak site, the private equity firm is partnering with Sterling Bay to envision a mixed-use development for the site. A spokesperson for Shore Capital reported that they are exploring the development of a potential healthcare facility and medical innovation hub in partnership with Northwestern Medicine. However, the site is also teeing up the chance to build a stadium-centered mixed-use district that would provide a new home for the Chicago White Sox.

Before the site could be redeveloped, Amtrak must relocate their maintenance campus. Relocating the maintenance facility has already been identified as a necessary step in the Chicago Hub Improvement Program, or CHIP, to improve Midwest passenger rail service. The agency is in talks to move the maintenance campus down to Union Pacific’s Canal Yard, a long strip of land between S. Canal St and S. Stewart Ave in Bridgeport near where the current White Sox stadium is. 

According to Crain’s, Mayor Brandon Johnson’s office has had an initial meeting with Ishbia’s team to review plans for the Amtrak site, but no details have been released. Amtrak has reportedly met with 11th Ward Alderman Lee to inform her of the potential move of the maintenance facility down into her ward and they have reached out to 28th Ward Alderman Ervin whose ward encompassed the Amtrak rail yard site at 14th St.