The news that the Bulls were leaving the Berto Center for a new location downtown was announced back in June, but this morning, the team officially revealed that they will move into a brand-spanking new practice facility next to the United Center.
The facility, which will be completely funded by the Bulls (so THIS is why we had to decimate the bench), is expected to be about 55,000 square feet and be located on the east side of the United Center where Parking Lot J [for reference, here's the current UC parking map -yfbb] currently sits. The project is scheduled to be done in time for the 2014-15 season (2014 PLAN!!!).
Jerry Reinsdorf credited Mayor Rahm Emanuel with the idea to move the facility to a downtown location, and also talked about the impact this new building will have on the team and the city (via Bulls.com):
"Today's announcement is the latest example of our longstanding commitment to the City of Chicago and to our fans," said Bulls Chairman Jerry Reinsdorf. "Investing in a modern facility for our players and coaches will help us to achieve our team's number one goal - winning championships - while also playing an important role in the city's ongoing redevelopment efforts in our West Side neighborhood."
Jokes about the "commitment to the fans" aside, this is a good idea and makes a ton of sense in many ways. The link on the Bulls site has an architectural rendering, and the facility does look pretty cool. There's no word about the entertainment complex that was rumored to come along with the new building.