Chicago Metropolitan Agency for Planning Policy Brief December 2025
Private consortium delivers Houbolt Road Bridge P3
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Description
CenterPoint Properties Trust participates in a 99-year DBFOM concession for the $190 million Houbolt Road Bridge project in Joliet, investing roughly $150–$170 million alongside United Bridge Partners to finance, design, build, operate, and maintain the tolled freight bridge. The State of Illinois contributed $21 million for approach and interchange improvements while the private partners recover costs from toll revenues.
Contract Details
Contract Amount
$150–$170 million private equity (of $190 million total project cost)
Vendor
CENTERPOINT PROPERTIES TRUST
Agency
Chicago Metropolitan Agency for Planning, IL
Contract Type
TRANSPORTATION
Document Date
December 1, 2025
Contract Term
99-year DBFOM concession period (commencing at operations, circa 2023)
Renewal Date
2122-12-31
Renewal Info
Concession is structured as a 99-year lease; no additional renewal options are described beyond this term.
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