Illinois Governor Rejects Landmark Development’s Megaproject

Illinois Gov. J.B. Pritzker is signaling opposition to the $20 billion One Central megadevelopment, even after the would-be developer slashed its state subsidy request from $6.5 billion to $2.75 billion.

A study of the proposal by KPMG that cost $500,000 found that it’s not a sound investment for taxpayer money, Crain’s reported.

Proposed in 2019 by Bob Dunn’s Landmark Development, the mixed-use project would span 34 acres above Metra tracks east of Soldier Field. Despite recent revisions, including a 20 percent cut in buildable space and the removal of a CTA Red Line extension, Pritzker’s office is unconvinced.

“The independent study made clear that the risks far outweigh the benefits under the current proposal,” Pritzker spokesman Alex Gough told the outlet.

The study, which was delayed for years, found that even under the updated plan, Illinois would owe up to $341 million annually in payments before taking over long-term operation and maintenance of the infrastructure, costs not included in the $2.75 billion ask.

Dunn’s team withheld comment pending a review of the study, though it maintains the project could yield tens of billions in new tax revenues and tens of thousands of jobs.

The project has not advanced through Chicago’s zoning process, and support from Mayor Brandon Johnson is lukewarm. While he previously called the idea “promising,” he has not endorsed state subsidies.

Former Mayor Lori Lightfoot enlisted Dunn to help design renovations for Soldier Field, in a bid to keep the Bears in Chicago. Dunn later promoted One Central as essential to those plans, framing it as both an entertainment hub and a way to improve access to the Museum Campus. However, the NFL team denied any collaboration with Dunn on its separate proposal for a new domed stadium nearby.

Even though Pritzker is out, the report stopped short of dismissing the project entirely, suggesting instead that Landmark’s proposal could serve as a basis for continued dialogue rather than a finished blueprint.

—Rachel Stone