Children's Museum Inks 90-Year Deal with MPEA

CHICAGO-The Chicago Children’s Museum has inked a 90-year lease agreement with the Metropolitan Pier and Expansion Authority (MPEA), owner of Navy Pier, where the museum is currently located. Though details about the lease are sketchy, one of the issues fueling the agreement is an expansion; the museum will increase from its current 57,000 square feet to 84,000 square feet.

Local reports note that the lease consists of one 15-year term, with five 15-year extensions. The museum is at 700 E. Grand Ave., but in 2009, then-Mayor Richard M. Daley backed a $100 million plan to build a new Children’s Museum in Grant Park. Those reports also point out that the lease puts to final rest the controversial decision to build a children’s museum in Grant Park.