Ishbia’s Firm in Contract for Amtrak Rail Yard Near The 78

Justin Ishbia’s ambitions for the White Sox in Chicago are coming into sharper focus — and they may hinge on a long-overlooked rail yard along the South Branch of the river.

The private equity firm, led by the White Sox owner-in-waiting, is under contract to acquire Amtrak’s 47-acre 14th Street Coach Yard, a key piece of land just south of downtown. Chicago-based Shore Capital Partners confirmed to Crain’s it is in early planning for a mixed-use development on the site, setting the stage for what could become a stadium-centered district tied to the nearby 78 megaproject.

The deal, if completed, would give Ishbia control of a strategic parcel directly across the river from Related Midwest’s 78 site, where the Sox have floated plans for a new ballpark ahead of their 2029 lease expiration at Rate Field, according to the publication.

Details remain sparse, but Shore said it is exploring a potential health care and medical innovation hub with Northwestern Medicine as part of the project. The hospital system confirmed early stage discussions to the outlet.

The firm is also working with Sterling Bay as a development partner, according to sources, though the scope of that role is unclear.

Whether the Amtrak site itself could house a stadium remains an open question. The parcel is narrower than the 78, but sources told the publication that a ballpark is among the uses being considered. At a minimum, the site could complement a stadium across the river with entertainment, commercial and mixed-use components.

The vision comes with complications, as any redevelopment depends on Amtrak relocating its maintenance facility, which officials are exploring roughly a mile south at Union Pacific’s Canal Yard. That move is tied to broader infrastructure upgrades under the Chicago Hub Improvement Program, aimed at modernizing the region’s rail network, according to the publication.

The deal also underscores Ishbia’s growing influence over the Sox’s future. While Jerry Reinsdorf retains control of the team until at least 2029, Ishbia has made clear his intention to build a new home for the franchise.

— Eric Weilbacher