Navy Pier Expected To Lose $20M This Year; Could It Potentially Close?

Cover Image
By WBBM Newsradio 780 AM & 105.9 FM

CHICAGO (WBBM NEWSRADIO) -- Navy Pier is facing a major financial hit and could be closing.

Navy Pier reopened in June following a three month closure due to the COVID-19 pandemic, but the usual crowds have yet to return; and the popular tourist destination said Monday it is expected to lose $20 million this year.

But, spokeswoman Payal Patel told the Sun-Times, the company “is not going out of business. Navy Pier is not going bankrupt. They’re looking at full closure, partial closure.”

RELATED: Navy Pier's New Feature: Social-Distance Ambassadors | Navy Pier Partially Reopens | Navy Pier To Begin Its Reopening Process On June 10 | Navy Pier Marina Coming In 2021 - The First-Of-Its-Kind On Lake Michigan

The COVID-19 pandemic shutdown order closed Navy Pier from March 17 through June 10. Many restaurants and vendors have since reopen, but the Ferris wheel, the Chicago Children’s Museum and the Chicago Shakespeare Theater remain closed.

Navy Pier's private owners are expected to make a decision by the end of this month about possible closure.