Wintrust Arena

Coordinates: 41°51′11″N 87°37′20″W / 41.852997°N 87.622194°W / 41.852997; -87.622194

Wintrust Arena
Construction
Wintrust Arena under construction in August 2016
Location	Chicago, Illinois
Coordinates	41.852997, -87.622194
Owner	Metropolitan Pier and Exposition Authority^[1]
Operator	Metropolitan Pier and Exposition Authority^[1]
Capacity	10,000^[1]
Broke ground	November 16, 2015
Opened	fall 2017 (projected)
Construction cost	$173 million^[1]
Architect	Pelli Clarke Pelli Architects^[1]
Tenants
DePaul Blue Demons

Wintrust Arena at McCormick Square (previously referred to as DePaul Arena or McCormick Place Events Center)^[2] is a 10,000-seat sports venue that started construction in 2016 in Chicago's Near South Side community area and will be home court for the men's and women's basketball teams of DePaul University as well as serve as an events center for McCormick Place. The arena was announced in May 2013, with construction planned to begin in 2014, and use expected to begin with the 2016–17 season.^[3] When construction began in November 2015 it was expected to be completed for the 2017–18 season. Although DePaul had been seeking a new home arena — it has used Allstate Arena in suburban Rosemont since 1980 — it rejected a November 2012 ten-year offer to play rent free at the United Center.^[3] Instead, DePaul will use Allstate Arena on a recurring one-year basis until it has a new home.^[3] On November 16, 2016 DePaul and the Metropolitan Pier and Exposition Authority (MPEA), today announced that the new event center at McCormick Square will be called Wintrust Arena. The announcement comes after the signing of a letter of intent that contemplates a definitive 15-year sponsorship agreement between DePaul and Wintrust.^[4]

Planned construction

At the outset there were two different interpretations of the planned venue. ESPN has interpreted the plan as a 10,000-seat arena with a cost to tax payers of $103 million and total cost of $175 million. The Chicago Sun-Times has interpreted the plan as a 12,000-seat arena with public funding of $125 million out of a total spend $300 million.

Original 12,000-seat plan

Before the actual announcement, the arena was publicized by the Chicago Sun-Times as a 12,000-seat arena that would cost $300 million.^[5] After the announcement, the Chicago Sun-Times reported an expected 12,000 seat venue, but with $125 million coming from public funds.^[6]

10,000-seat plan

Upon announcement, ESPN reported the expected cost of the 10,000-seat arena, located on Cermak Road between Indiana and Prairie Avenue, across the street from McCormick Place was $173 million.^[3] The funding will come from three sources: $70 million from the university, $70 million from a Metropolitan Pier and Exposition Authority ("McPier") bond fund and $33 million from public taxes (e.e., $103 million from public funds).^[3] It will be built to host concerts, conventions and other events in addition to DePaul Basketball games.^[7]

Funding

The decision for public participation in the funding of DePaul's athletic facility was controversial because it was announced 6 days prior to the Board of Education's decision to close 50 public schools due to a $1 billion deficit.^[8] When the funding was approved by the Chicago City Council on July 24, 2013, it was described by the Chicago Reader as if the money was being taken from the schools and spent on the arena because it included $68 million in budget cuts for the Chicago Public Schools.^[9]^[10] The Chicago Tribune revealed that the land for the project had not yet been acquired four days after the City Hall funding vote.^[11]

Construction

On November 16, the Center had a ceremonial groundbreaking attended by Chicago Mayor Rahm Emanuel, officials from DePaul University and McCormick Place.^[12]^[13] At the time of the groundbreaking, the construction was expected to result in a 10,000 seat venue at the corner of Cermak Road and Indiana Avenue and expected to be completed at some time in 2017.^[14] At the time, the DePaul Athletics department expected the 2017–18 DePaul Blue Demons to be able to host its season opener at the venue,^[15] but the venue was expected to double as an events center for McCormick Place.^[13] The Center was expected to create 7,400 construction jobs, 2,500 permanent jobs.^[13]

A "new construction" building permit was issued by the city to the McCormick Pier and Exposition Authority (MPEA, or "McPier") on March 23, 2016,^[16] for the full building. Previously issued permits allowed the construction of foundations and shear walls.

Naming

After being referred to as both DePaul Arena and McCormick Place Events Center,^[14] the complex was announced to be under a 15-year naming rights agreement with Wintrust Financial under the name Wintrust Arena on November 16, 2016.^[17]

References

1 2 3 4 5 Bergen, Kathy (September 24, 2013). "Design Selected for DePaul Arena Near McCormick Place". Chicago Tribune. Retrieved May 19, 2014.
↑ "New Pictures of the McCormick Place Event Center/DePaul Arena". chicagoarchitecture.org. Chicago. June 10, 2014. Retrieved September 19, 2014.
1 2 3 4 5 Brennan, Eamonn (May 16, 2013). "Chicago Reveals DePaul Arena Plans". ESPN. Retrieved September 28, 2013.
↑ "Event Center at McCormick Square to be named Wintrust Arena". DePaulBlueDemons.com. CBSi Advanced Media. Retrieved 17 November 2016.
↑ Korecki, Natasha; Spielman, Fran; Sneed, Michael (May 13, 2013). "Emanuel to Announce $300 Million DePaul Stadium Plan for McCormick Place". Chicago Sun-Times. Retrieved September 28, 2013.
↑ Spielman, Fran; Korecki, Natasha (May 14, 2013). "TIF, Hotel Taxes Could Help Pay for Planned McCormick Place Arena". Chicago Sun-Times. Retrieved September 28, 2013.
↑ Ecker, Danny. "McPier approves new DePaul arena design". Crain's.
↑ Strauss, Ben (June 23, 2013). "Critics Say Chicago Shouldn't Aid DePaul Arena With Schools Closing". The New York Times. Retrieved September 28, 2013.
↑ Johnson, Raphielle (August 1, 2013). "Project That Includes a New Arena for DePaul More Complicated Than Anticipated". NBC Sports. Retrieved September 28, 2013.
↑ Joravsky, Ben (August 1, 2013). "Meigs Field II—the City Council Very Quietly Passes Mayor Rahm's DePaul Basketball Arena Deal". Chicago Reader. Retrieved September 28, 2013.
↑ Bergen, Kathy; Ruthhart, Bill (July 28, 2013). "South Loop land deals at the corner of business and politics: City, McPier will buy property for DePaul arena from 3 owners who have deep civic ties". Chicago Tribune. Retrieved September 28, 2013.
↑ "Morning Spin: Rauner lays out rules, suggests talking points for meeting with Madigan, leaders". Chicago Tribune. November 16, 2015. Retrieved November 20, 2015.
1 2 3 Spielman, Fran (November 16, 2015). "TIF flap forgotten as mayor breaks ground on DePaul basketball arena". Chicago Sun-Times. Retrieved November 20, 2015.
1 2 "Officials break ground on McCormick Place Event Center". WLS-TV. November 16, 2015. Retrieved November 20, 2015.
↑ "Blue Demon Freshmen Envision Historic Change". DePaulBlueDemons.com. CBS Interactive. November 18, 2015. Retrieved November 20, 2015.
↑ "New construction building permit #100641093". March 23, 2016. Retrieved March 27, 2016.
↑ Ecker, Danny (November 16, 2016). "DePaul strikes arena naming rights deal with Wintrust". Crain's Chicago Business. Retrieved November 17, 2016.

External links

DePaul University

Academics	College of Computing and Digital Media College of Law Kellstadt Graduate School of Business The Theatre School Merle Reskin Theatre

Athletics	DePaul Blue Demons Men's basketball Women's basketball Big East Conference (1979–2013) Big East Conference (current) Great Rivers Lacrosse Conference Allstate Arena Wintrust Arena Sullivan Athletic Center

History	Alumni Vincent de Paul Congregation of the Mission Barat College McCormick Theological Seminary Alumni Hall Dennis H. Holtschneider

Student life	The DePaulia

DePaul Blue Demons men's basketball

Venues	Alumni Hall (1956–1980) Allstate Arena (1980–present) Wintrust Arena (planned 2017)

Culture & lore	History

People	Head coaches

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NCAA Final Four appearances in italics

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