Tribune Publishing will print newspapers in Chicago’s northwest suburbs to make way for a casino at Bally’s $1.7 billion redevelopment of downtown’s Liberty Center printing plant.
Tribune Publishing and Twenty Lake Holdings, a subsidiary of Alden Global Capital, have reached an agreement with Paddock Publications to purchase the 160,000-square-foot Paddock Printing Center at 1000 Albion Drive in Schaumburg, Daily Herald Report.
Bally’s will pay Tribune Publishing an undisclosed amount of cash to free up the Liberty Center printing facility at 777 West Chicago Avenue, which currently operates and prints newspapers such as The New York Times and The Wall Street Journal, in addition to There are forums.
Bally’s won a competition from a handful of other development proposals for the city’s first casino license and was selected by the Lori Lightfoot government to redevelop the site. The Liberty Center will be demolished, and Bally’s expects to start construction next year, with a target completion date of 2026.
The parties involved in the Schaumburg transaction have agreed to a long-term agreement for Tribune Publishing to print and publish the Daily Herald, a division of Paddock Publications. The Daily Herald’s production staff will take over when Tribune Publishing takes over the facility, the outlet said.
Doug Ray, the Daily Herald’s publisher, chief executive and chairman, said the property sale was an opportunity to accumulate cash and focus more on premium media content, marketing and other services.
The printing facility is located on 21 acres along the Elgin-O’Hare Highway. It opened in 2002. Schaumburg Mayor Tom Daly supported the move.
“It just makes Schaumburg a place where all kinds of businesses want to come,” Daly told the outlet. “It’s an absolutely wonderful location. … I love just driving to say, that’s where my papers are being printed.
— Quinn Donoghue
