Bally's casino proposal on Tribune Publishing site gets pushback in public hearing
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Amid vocal opposition, the backers of Bally's casino proposal at the Tribune Publishing site along the Chicago River argued Wednesday night their plan would decrease traffic and increase public space over what is already permitted to be built at the site.
The $1.74 billion casino and hotel along the North Branch of the Chicago River, between Chicago and Grand Avenues, would include a 3,000 seat theater, a Chicago sports hall of fame, an outdoor park, outdoor music venue, and restaurants in addition to the 3,400 slot machine and 173 table game casino floor.
The proposal sits on property, now owned by Nextstar Media Group, that was already rezoned to accommodate a sprawling campus of residential and mixed-use buildings.
Bally’s, anticipating traffic concerns from nearby residents, left a flier on each seat at a public hearing Wednesday night claiming that traffic would decrease if the casino replaced the office space and residential tower previously planned for the site, including a 60 percent decrease during the morning rush hour.
Bally’s would purchase a 30-acre section of the larger Nextstar site.
Changes to their plan would be added depending on community input, chairman Soo Kim said at the Wednesday night event.
“The site is flexible,” he said. “We can do whatever the community wants,” including nixing a pedestrian bridge across the river that some residents said they don’t want.
Bally’s officials promised to partner with local restaurants to open outposts at the casino and legendary comedy outfit Second City to create an entertainment venue.
The project is unwanted by the influential River North Neighbor’s Association, which read a letter at the meeting it recently sent to three local aldermen claiming the casino would have a “negative impact . . . on traffic, public safety and quality of life for thousands of residents in the densely populated surrounding area.”
Those general concerns continued to be fleshed out when the meeting finally opened up for public comment an hour and a half after it began.
A resident of a building across the river on Grand Avenue said an outdoor music venue would exacerbate noise pollution for him and his neighbors.
Bally’s officials responded that the majority of the music performances would be inside and suggested they may limit the time of the day outdoor concerts take place, but made no promises.
Jonathan Solomon, who lives across the river and represented his condo association, said he doubted the traffic studies presented at the meeting, noting that in anticipation for Wednesday’s 300-person meeting the city utilized dozens of personnel to direct traffic in the area.
“It seemed that there were traffic issues (tonight), so to have a venue that can seat 3,000 and a casino that can have hundreds of people sitting there and gambling, there's going to be traffic issues.”
“This casino does not belong in a neighborhood,” said another resident who lives nearby. “Residential and offices actually build a neighborhood, casinos don’t build a neighborhood.”
Bally’s estimates it can open a temporary casino at a vacant warehouse across Chicago Ave. from the site by the summer of 2023, before accepting wagers at the permanent location in the first quarter of 2026.
Prior to the meeting, the Bally’s team already course-corrected their bid by amending a clause in its contract with minority investors that could have sunk the proposal. Previously, those investors would have been bought out at a set, non-negotiated price six years after its opening, whether or not they wished to cash in their investment. Now, the company says it will be up to those investors if they wish to hold or sell their shares.
The Bally’s proposal could bring in $191.7 million in revenue to the city, six years after its opening, if it is permitted to build a 500-room hotel and $176.9 million if it builds a 100-room hotel, according to a city analysis. The $191.7 million figure represents the largest annual sum of the three finalists.
Local Ald. Walter Burnett, 27th, attended the meeting but did not speak. Burnett told Crain’s on Monday he’s keeping an “open mind” on the project and has not decided if he’ll support it.
South Loop residents on Tuesday night pushed back on Hard Rock Chicago’s plan to plant a casino above railroad tracks west of Soldier Field as the company sought to assuage city officials' fears that the project was tethered to the larger One Central development that needs $6.5 billion in state subsidies to move forward.
Local casino magnate Neil Bluhm and Related Midwest will present their plans for a casino and hotel tower at The 78 megadevelopment along the south branch of the Chicago River on Thursday night. Local Ald. Byron Sigcho Lopez, 25th, has already come out against the proposal, so the company will likely seek to assure city officials they have other community support.
After Mayor Lori Lightfoot selects a finalist, the winner will be evaluated by a new special City Council committee created last month. If approved, the proposal needs full City Council signoff before being sent to the Illinois Gaming Board for its own review process.
