Plans show an open-air stadium to allow for a natural grass field, which can hold up to 22,000 fans. The team says the estimated $650 million project will be privately funded. The stadium will be largely privately financed by team owner Joe Mansueto, the founder of Morningstar Financial Services.

The Chicago Fire announced plans early Tuesday morning for a privately financed $650 million, 22,000-seat soccer stadium at "The 78." The stadium will be open-air with a natural grass field and will cover approximately nine acres of the vacant site in Chicago's South Loop,

It wants to move to a new place. And it's paying the full price on its own. Via Sports Business Journal, the Chicago Fire of the MLS will build a $650 million stadium along the Chicago River. Team owner Joe Mansuetto will privately finance the facility.