Chicago’s Navy Pier is dangling one of the city’s most high-profile redevelopment opportunities, asking developers to reimagine its eastern end in a move that could redefine the state’s most visited tourist destination.
Navy Pier Inc., the nonprofit that operates the 109-year-old landmark, issued a request for concepts last month seeking bold ideas to “revitalize” the pier’s east end and potentially take on operations of its facilities, the Chicago Sun-Times reported. The call precedes a formal request for proposals, which will be issued once preliminary visions are submitted.
The scope is sweeping. Depending on which scenario a developer pursues, projects could include Festival Hall and adjoining back-of-house spaces, or extend further to cover the Terminal and Shelter buildings, outdoor beer gardens, and 60,000 square feet of the Aon Grand Ballroom. Most of those structures date to the pier’s 1915 origins, while Festival Hall was added during its 1990s redevelopment.
More than $450 million of public and private investments have been injected into other parts of the pier in the past dozen years, including a replacement of the ferris wheel, the 223-room Sable Hotel and other south dock projects.
The nonprofit pitched the opportunity as a “defining chapter” for the pier, which drew more than 8.5 million visitors last year. The east end alone accounted for $16.5 million in expenses out of $65.9 million in total operating costs, with annual revenues reaching $70.9 million. Developers have until Nov. 3 to submit concepts, with questions allowed before final bids.
The effort follows the opening of the privately funded Navy Pier Marina this summer, which had been delayed for years over security concerns from City Hall.
The 170,000-square-foot Festival Hall has long been a key venue for conventions and exhibitions. Redevelopment could cement the pier’s status as a global attraction and a revenue engine.— Eric Weilbacher
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