Venue Detail
Chicago Express
Revenues From Sports Venues Pro Facilities Report
February, 2011
Chicago Express
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5333 Prairie Stone Pkwy Hoffman Estates, IL 60192 Phone: 224-220-1333 Fax: 224-220-1314 URL: www.chicagoexpresshockey.com
Owner
Craig Drecktrah
League
ECHL Eastern-North
Venue
Sears Centre, 650 W. Higgins Rd., Hoffman Estates, IL 60195 Owner: Ryan Cos. and Sears Managed by: Global Spectrum Built: 2006 Capacity: 6,000 Concessionaire: The Levy Restaurants Soft drink: Pepsi Cola
Building sponsors
Clubs/Restaurants: Yes Seating: Yes Parking: Yes Entries: Yes
Naming rights
Sold to: Sears Price: $10, 000,000 Term: 10 years Expires: 2015
Ticket prices
Season tickets range from $243 to $774
Financing
The $60 million facility was built with a $50 million loan backed by the village of Hoffman Estates. The loan will be paid back by Ryan over the next decade and a half. Payments are about $3.9 million annually.
The 12,000-seat arena opened in 2006 in the Chicago suburb of Hoffman Estates. In 2007 it was joined by an 8,900-seat amphitheater.
In addition to live music, the arena will host family shows, motor sports, ice skating and wrestling, while also serving as the home to four new minor-league sports teams.
CCO Entertainment, the firm managing the Sears Centre, said the area’s interstate access, densely populated surroundings, variety of regional and corporate headquarters and impressive household incomes were the kinds of “statistical earmarks” that made the Sears Centre project viable.
CCO plans to market its events from the Loop to Rockford, but will particularly focus on those concertgoers stretched to travel to venues in Chicago or the Allstate Arena in Rosemont.
The development firms have a 75-25 split in the project and they would own the building. Sears, which has the lesser share, has purchased a 10-year naming rights agreement and contributed land for the venue. (Facilities, Financial, Ice Hockey, Professional Sports)