History of the Site • WHAT WAS BUILT: The Projects of Millennium Park • THE ECONOMICS, COST & REVENUE: “The Millennium Park Effect” • THE FUTURE: Phase II, North Grant Park
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL • Lurie Garden $13.2 MILLION USD 22.58 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL • Lurie Garden $13.2 MILLION USD 22.58 MILLION BRL • Kapoor Sculpture/AT&T Plaza $26 MILLION USD 44.5 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL • Lurie Garden $13.2 MILLION USD 22.58 MILLION BRL • Kapoor Sculpture/AT&T Plaza $26 MILLION USD 44.5 MILLION BRL • Crown Fountain $17 MILLION USD 29 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL • Lurie Garden $13.2 MILLION USD 22.58 MILLION BRL • Kapoor Sculpture/AT&T Plaza $26 MILLION USD 44.5 MILLION BRL • Crown Fountain $17 MILLION USD 29 MILLION BRL • Other Components $103 MILLION USD 176 MILLION BRL
9.32 MILLION BRL • Gehry Trellis & Ribbons $31.9 MILLION USD 54.9 MILLION BRL • BP Pedestrian Bridge $14.5 MILLION USD 24.9 MILLION BRL • Chase Promenade $4 MILLION USD 6.9 MILLION BRL • Wrigley Square / Peristyle $5 MILLION USD 8.6 MILLION BRL • Lurie Garden $13.2 MILLION USD 22.58 MILLION BRL • Kapoor Sculpture/AT&T Plaza $26 MILLION USD 44.5 MILLION BRL • Crown Fountain $17 MILLION USD 29 MILLION BRL • Other Components $103 MILLION USD 176 MILLION BRL TOTAL $220 MILLION USD 376.7 MILLION BRL Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
BRL • Metra Crossover Structure $61 MILLION USD 104 MILLION BRL • Park Finishes | Landscaping $43 MILLION USD 73.5 MILLION BRL • Music Pavilion $25.5 MILLION USD 43.6 MILLION BRL
BRL • Metra Crossover Structure $61 MILLION USD 104 MILLION BRL • Park Finishes | Landscaping $43 MILLION USD 73.5 MILLION BRL • Music Pavilion $25.5 MILLION USD 43.6 MILLION BRL • Design & Management Costs $40 MILLION USD 69 MILLION BRL
BRL • Metra Crossover Structure $61 MILLION USD 104 MILLION BRL • Park Finishes | Landscaping $43 MILLION USD 73.5 MILLION BRL • Music Pavilion $25.5 MILLION USD 43.6 MILLION BRL • Design & Management Costs $40 MILLION USD 69 MILLION BRL • City Portion: Exelon Buildings $1.5 MILLION USD 2.6 MILLION BRL
BRL • Metra Crossover Structure $61 MILLION USD 104 MILLION BRL • Park Finishes | Landscaping $43 MILLION USD 73.5 MILLION BRL • Music Pavilion $25.5 MILLION USD 43.6 MILLION BRL • Design & Management Costs $40 MILLION USD 69 MILLION BRL • City Portion: Exelon Buildings $1.5 MILLION USD 2.6 MILLION BRL TOTAL $270 MILLION USD 461.7 MILLION BRL Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
BRL • Metra Crossover Structure $61 MILLION USD 104 MILLION BRL • Park Finishes | Landscaping $43 MILLION USD 73.5 MILLION BRL • Music Pavillion $25.5 MILLION USD 43.6 MILLION BRL • Design & Management Costs $40 MILLION USD 69 MILLION BRL • City Portion: Exelon Buildings $1.5 MILLION USD 2.6 MILLION BRL TOTAL $270 MILLION USD 461.7 MILLION BRL TOTAL PUBLIC/PRIVATE PROJECT COST: 490 MILLION USD APPROX 850 MILLION BRL Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
2015 • Condominium Units Completed 2005 – 2007 3,696 • Forecast: Units Completed Through 2015 10,000 • Millennium Park Factor 25% • Units Attributable to Millennium Park 2,500
2015 • Condominium Units Completed 2005 – 2007 3,696 • Forecast: Units Completed Through 2015 10,000 • Millennium Park Factor 25% • Units Attributable to Millennium Park 2,500 • Average Price per SF $400 USD
2015 • Condominium Units Completed 2005 – 2007 3,696 • Forecast: Units Completed Through 2015 10,000 • Millennium Park Factor 25% • Units Attributable to Millennium Park 2,500 • Average Price per SF $400 USD • Average Millennium Park Factor Bonus Price per SF $100 USD
2015 • Condominium Units Completed 2005 – 2007 3,696 • Forecast: Units Completed Through 2015 10,000 • Millennium Park Factor 25% • Units Attributable to Millennium Park 2,500 • Average Price per SF $400 USD • Average Millennium Park Factor Bonus Price per SF $100 USD • Average Unit Size 1,400 SF
2015 • Condominium Units Completed 2005 – 2007 3,696 • Forecast: Units Completed Through 2015 10,000 • Millennium Park Factor 25% • Units Attributable to Millennium Park 2,500 • Average Price per SF $400 USD • Average Millennium Park Factor Bonus Price per SF $100 USD • Average Unit Size 1,400 SF TOTAL VALUE OF RESIDENTIAL DEVELOPMENT: 1.4 BILLION USD 2.38 BILLION BRL Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
nearby condo projects, with buyers standing in line for hours to put down deposits, and sales contracts being signed at a faster pace than any other downtown neighborhood” Crain’s Chicago Business September 06, 2004
• Hotel Revenue $507 Million USD • Restaurant Revenue $770 Million USD • Retail Revenue $620 Million USD • Taxes on Visitor Spending $240 Million USD • Direct Earnings $200 Million USD
• Hotel Revenue $507 Million USD • Restaurant Revenue $770 Million USD • Retail Revenue $620 Million USD • Taxes on Visitor Spending $240 Million USD • Direct Earnings $200 Million USD • TOTAL GROSS VISITOR SPENDING: $2.3 BILLION USD Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
• Hotel Revenue $507 Million USD • Restaurant Revenue $770 Million USD • Retail Revenue $620 Million USD • Taxes on Visitor Spending $240 Million USD • Direct Earnings $200 Million USD TOTAL GROSS VISITOR SPENDING: $2.3 BILLION USD Approx. 3.9 Billion BRL TOTAL VISITORS TO MILLENNIUM PARK: 30 MILLION Source: The Millennium Park Economic Impact Study by URS and the Goodman Williams Group
111.4 MILLION BRL • Total Public-Funded Elements $45 MILLION USD 77.1 MILLION BRL TOTAL PUBLIC/PRIVATE DONATED FUNDS: 110 MILLION USD 188.5 MILLION BRL