CHICAGO (WBBM NEWSRADIO) -- One of Chicago's iconic tourist destinations will be temporarily closing due to the COVID-19 pandemic.
Navy Pier announced Tuesday that it will implement a temporary closure starting Tuesday, Sept. 8 in an effort to limit the financial burden and impact of the ongoing COVID-19 pandemic on the organization.
Per state and city orders, Navy Pier first closed to the public from March 16 to June 10. Since its phased reopening, the organization has been working to "find solutions that would enable it to continue its operations with the appropriate safety and security measures in place," the Pier said in a statement. While the organization has been able to resume partial operations and safely welcome guests back to the Pier, the destination is seeing less than 20 percent of its typical summer attendance, making it difficult to generate revenues that support its standard operations.
In all, Navy Pier relies heavily on these sources of revenue. According to Navy Pier, the loss of these earnings has been "devastating to the organization’s budget, resulting in a projected deficit of $20 million in 2020."
The organization said Navy Pier’s short-term closure will help limit further losses, as well as the businesses that are housed at the Pier.
Since 2011, Navy Pier has operated as an independent, 501(c)(3) nonprofit organization. Although the organization maintains facilities on publicly-owned property, the Pier does not receive any public tax dollars to support its operating costs, and depends on generous philanthropic support from individuals, foundations and corporations with the majority of revenues earned through operational income, such as rent and fees from on-site business establishments, private events, consumer and trade shows, and parking and ticket sales from attractions—all of which have been impacted by the COVID-19 pandemic.
Navy Pier will continue to remain open to the public through Labor Day, welcoming guests to experience the Pier’s free arts and cultural programs, restaurants, retail shops, tour boats and dining cruises, with multiple layers of safety precautions in place.
Navy Pier anticipates reopening in spring of 2021. For more information and updates related to Navy Pier’s closure and reopening status, please visit www.navypier.org.