Universal Horror brings monsters, new life to Goose Island

Chicago’s River Westneighborhood is about to get a spine-tingling upgrade. Universal Horror Unleashed: Chicago, a year-round horror-themed venue announced in June, will transform a long-vacant 114,000-square-foot space at 700 W. Chicago Ave. into a city-anchored house of horrors, bringing jobs, thrills, and a new kind of momentum toGoose Island, near River West.

Set to open in 2027, the immersive experience will feature haunted houses, themed dining, live shows, and retail centered around Universal’s iconic horror franchises like “Frankenstein,” “Dracula,” and “The Purge.” It will be Universal Destinations & Experiences’ second permanent horror location, the first of which is slated to open in AREA15, Las Vegas, on Aug. 14, 2025.

The Goose Island property is owned by Onni Group, the Canadian developer that had previously proposed a sprawling residential complex for the site. Those housing plans are now effectively shelved for at least a decade.

The venue, supported through Illinois’ Economic Development for a Growing Economy (EDGE) tax credit program, is required to keep the attraction running for at least 10 years, complicatingOnni’s immediate plans for housing on the property. Some industry watchers speculate this could signal Onni’s quiet retreat from residential plans, at least for the foreseeable future.

Onni insists the venue is just one part of a broader strategy. “This strategic lease aligns with Onni’s broader development timeline,” said Duncan Wlodarczak, Onni Group’s chief of staff. He emphasized that Onni “remains committed to securing the necessary approvals to realize its comprehensive redevelopment plans.”

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Union tensions played a key role in the delay of Onni’s residential vision; however, no labor disputes have been reported regarding the Universal venue so far. As a commercial attraction, not a housing or hotel development, it’s less likely to face the kind of union backlash that derailed earlier plans. As a commercial attraction with different labor classifications and fewer construction demands tied to union agreements, it’s less likely to trigger the same level of union scrutiny or resistance.

City officials, economic development leaders, business owners in nearby neighborhoods, and urban planners all agree that the arrival of Universal Horror Unleashed signals a turning point for Goose Island’s future. Once a gritty industrial hub, it is slated to become a vibrant hub of entertainment, tourism, and year-round economic activity. Nearby neighborhoods like Lincoln Park, Wicker Park, and Old Town are likely to benefit from increased tourism, new job opportunities, and revitalized infrastructure.

The project is expected to create over 400 permanent jobs, from operations and entertainment roles to specialized positions in makeup and prosthetics. World Business Chicago estimates the site will generate over $1 billion in total economic impact in ten years across Illinois.

Construction is expected to begin in early 2026, following the completion of design plans and permitting. While officials and developers appear optimistic about the timeline, the site has a history of stalled plans and shifting priorities. That’s a reason for close monitoring of the progress of this project.

Universal Horror Unleashed Chicago will not be just another seasonal haunted house. It’s a bold bet on urban entertainment, targeting thrill-seekers, horror lovers, and those craving nostalgia. While the monsters may be fictional, the economic stakes and the potential for long-term transformation are very real. The Chicago venue will be more than a scream-fest. City government and business leaders hope it will become an economic engine.