Bally’s Corp. has closed on a $200-million deal to purchase a 30-acre former Chicago Tribune newspaper printing plant as the site of Chicago’s first-ever casino.
Under terms of the deal announced on Nov. 21, a Chicago-based real estate private equity firm will purchase the Tribune Publishing Center site at Chicago Avenue and Halsted Street in the River West neighborhood. Then, to raise funds for the $1.7-billion casino project, the casino developer will lease back the land in a ground lease with the investor whose name was not released.