Rosemont's largest employer, MB Financial Bank, has bought the naming rights for The Park at Rosemont restaurant and entertainment district for $3 million.
The multiyear sponsorship contract begins today and will run for 56 months with the option to renew after 2016. MB Financial, which employs nearly 700 people at its Financial Center at 6111 N. River Road, will pay Rosemont $250,000 this year, and $695,000 in each of the following four years, according to village officials.
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The deal inked last week allows MB Financial to mount prominent signage over the entertainment complex, which will be known as The MB Financial Park at Rosemont. The deal also gets the bank exposure at the Allstate Arena, the Donald E. Stephens Convention Center, The Ballpark at Rosemont and other village venues.
MB Financial also has agreed to provide automated teller machines throughout those properties, including the Akoo Theatre (formerly called the Rosemont Theatre), officials said.
"This is a great day for Rosemont," Mayor Bradley Stephens said in a news release. "As our village's largest employer, MB Financial Bank has proven to be a terrific neighbor and an immense supporter of the community. This agreement broadens their presence in our area and will better the lives of Rosemont citizens, as well as residents of the surrounding areas in a wide array of ways."
The MB Bank Park at Rosemont entertainment district debuted April 11 with the opening of the Irish Five Roses Pub. The 22-lane Kings Lanes, Lounge & Sports will be the second major venue when it opens Wednesday.
The remaining six venues -- Adobe Gila's Mexican Restaurant, Toby Keith's "I Love This Bar & Grill," Zanies Comedy Night Club, Park Tavern, Hofbräuhaus Chicago, and a yet-to-be-named Greek restaurant -- will to be rolled out this spring and summer.
The 200,000-square-foot district features entertainment, dining and festival space. Situated just west of River Road and north of Balmoral Avenue fronting the northbound Tri-State Tollway, the district is flanked by Muvico Theater to the north and Akoo Theatre and a future outlet mall on the south. It sits on the site where Rosemont had planned a casino.
"It's a unique venue and there's nothing like it in the Chicago area, and perhaps the country," said Karen Perlman, MB Financial Bank senior vice president and chief marketing officer. "We think it will be a destination for businesses, individuals, families and tourists and we are proud to be associated with Rosemont in such a visible way."