Justin Ishbia poised to buy rail yard, fueling speculation it could become part of White Sox stadium site
CHICAGO — Billionaire investor Justin Ishbia is on the verge of buying an Amtrak rail yard southwest of downtown and just across the Chicago River from The 78, a new mixed-use development still eyed as a possible future home of the Chicago White Sox. Ishbia, the founder and managing partner of Chicago-based private equity firm Shore Capital Partners, forged an agreement last year with White Sox owner Jerry Reinsdorf to acquire a controlling interest in the team, perhaps as early as 2029. That deal is fueling speculation the Amtrak property could become part of a new South Loop ballpark.
The potential deal for the 47-acre rail yard was first reported by Crain’s Chicago Business. “This is a very smart move by Justin Ishbia,” said Marc Ganis, a Chicago-based sports marketing consultant, comparing it to the Chicago Bears’ 2023 acquisition of Arlington Park as a possible site for a new football stadium. “Even if the site is not used for the White Sox, it could be an option.
One of Justin’s great advantages as an owner is liquidity, and the ability to create options for the team when he owns it, or even when Jerry Reinsdorf still owns it. ” Securing the approvals needed for a new baseball stadium and arranging financing for what could be a more than $1 billion project will take years. Ishbia’s firm confirmed the Amtrak deal, but so far it’s mum about the possibility of a replacement for the South Side’s Rate Field, and instead touted a potential partnership with one of the city’s leading hospitals.
“Shore Capital Partners is under contract to acquire the Amtrak rail yard and has begun early planning for a mixed-use development on the site,” said Sarah Hamilton, a spokesperson for Ishbia. “As part of the vision for the district, Shore is exploring with Northwestern Medicine a potential healthcare facility and medical innovation hub. ” Northwestern Medicine said making a final decision on such a large project is a long way off, but a South Loop site could play a role in the health care system’s long-term strategy to further expand services beyond its flagship Streeterville locations.
“We are in the early stages of discussions about a potential health care facility as part of this development,” said Northwestern Medicine spokesperson Christopher King. “Consistent with our recent expansions in neighborhoods such as Bronzeville and Old Irving Park, we continue to explore opportunities to bring world‑class, compassionate care closer to where our patients live and work. This potential project would allow us to further expand our footprint in the South Loop.
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