CHICAGO — Bally’s Corp. and its construction partners have reached a major milestone on the company’s $1.7 billion Chicago casino and entertainment development, officially topping out the large-scale project along the Chicago River.
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The company announced May 1 that construction crews placed the final structural beam on the development, marking significant progress on one of Chicago’s largest active commercial construction projects.
Bally’s is developing the project in partnership with the Chicago Community Builders Collective, a joint venture led by Gilbane Building Co. and several Chicago-area contractors and engineering firms. The collective includes Builder Brown & Momen, d’Escoto, Milhouse Engineering & Construction, Powers & Sons Construction, Riteway-Huggins Construction Services, SQN Associates and Ujamaa Construction.
The project is being built on the former Chicago Tribune Freedom Center property, a 30-acre site that previously housed the newspaper’s printing and headquarters operations. Bally’s received approval for the redevelopment in February 2025.
When completed, the development will include a 500-room hotel tower, rooftop bar, 3,000-seat entertainment theater and event center, gaming facilities and approximately 3,300 parking spaces.
Developers say the casino project is intended to serve as a major entertainment and tourism destination while reconnecting Chicago’s River West and Near West Side neighborhoods to the Chicago River.
The project anchors a broader redevelopment strategy for the former industrial property, transforming the site into a mixed-use riverfront destination expected to generate jobs, tourism activity and long-term economic development for the area.
Construction activity on the project comes during a strong period for the gaming and casino industry nationwide. According to a 2025 report from the American Gaming Association, casino and gaming revenues continue to climb as operators expand entertainment offerings and destination-style developments.
Chicago has also experienced a surge in major infrastructure and commercial construction projects over the past year, generating billions of dollars in new investment throughout the city.
Among the largest ongoing developments are the $5.7 billion Red Line transit extension and the $1.45 billion O’Hare International Airport Concourse D expansion project, both of which recently reached major construction milestones.
The Chicago Community Builders Collective was formed with an emphasis on local participation and minority-owned business involvement in the high-profile development.
Several firms participating in the joint venture are based in the Chicago area and specialize in construction management, engineering, project oversight and commercial building services.
Industry leaders have increasingly emphasized local contractor inclusion on large-scale urban development projects as cities seek broader economic participation and workforce opportunities tied to public and private investment.
The Bally’s project is expected to create substantial construction employment throughout the development process while adding long-term hospitality, entertainment and operations jobs after opening.
The topping-out milestone signals that vertical construction on the project has advanced significantly, though substantial interior work, systems installation and site development remain ahead before completion.
As Chicago continues to experience a wave of high-profile commercial and infrastructure projects, the Bally’s casino development stands among the city’s most closely watched private-sector investments currently under construction.
Originally reported by Matthew Thibault, Reporter in Construction Dive.
