Chicago City Council approved plans for the new Chicago Fire stadium near the city's downtown Thursday.

Dave Baldwin, president of business operations for Chicago Fire, said he's "grateful" to have scored the council's approval for the "transformative project."

"This will be the first major stadium built in Chicago in three decades," Baldwin said in a statement.

The $650 million stadium, financed by club owner and Chicago native Joe Mansueto, will "anchor Chicago's newest neighborhood, The 78 ," Baldwin said.

The 78 is located along the Chicago River just south of Roosevelt Road.

Mansueto's "vision and commitment will give our Club a world-class home while creating a year-round sports and entertainment destination for the entire city," Balwin said.

Council approval comes months a

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