The park in front of Navy Pier is getting a new name to help pay for the pier’s renovation.
The Polk family is paying $20 million for the naming rights to Gateway Park on the western edge of the pier.
It will now be called Polk Park.
The money will be used for Navy Pier’s modernization plan which includes upgrading the park.
Polk Park will feature a lighted water fountain and ice skating rink.
Plans for the Navy Pier makeover include adding green space to the south dock, a Chicago-themed food court, expanding the Children’s Museum and a boutique hotel.