DePaul Eyes South Loop Arena

Sources have confirmed a Crain's Chicago Business report that DePaul University is working closely with the Chicago Mayor's office to build a new arena at a South Loop location.

DePaul has set forth in their 2018 Strategic Plan to "Seek opportunities to bring men's basketball back into the city."

The opportunity the University is currently seeking is a eight thousand to 12 thousand seat basketball arena to be built in the South Loop.

Sources inform that the proposed site for the arena would be located on Cermak Road west of the McCormick Place Convention Center.

DePaul's lease with Allstate Arena in suburban Rosemont expires in 2016.

DePaul has also had past discussions with the Chicago Bulls regarding construction of a west side building that could serve as the Bulls practice facility and as a home to the Blue Demons. However, the South Loop discussions are front and center at this point in time.

The proposed location would be located close to the University's Loop campus and to the University Center housing which is in the South Loop.

The arena would be located near ample McCormick Place parking and near a new CTA station on the Green Line at Cermak Road that has been proposed by Mayor Rahm Emanuel.

Per the Crain's Chicago Business report, the arena can be funded by "more than $100 million in untapped bonding authority" by the Metropolitan Pier and Exposition Authority, which owns and operates McCormick Place.

While no announcement by DePaul is imminent at this time, the University's leaders continue to work with the City of Chicago to build a new home for the Blue Demons.

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