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Sun-Times columnist Michael Sneed has learned the Metropolitan Pier and Exposition Authority has sold naming rights to the historic front entranceway to Navy Pier for $20 million.
Sources say the Polk Bros. Foundation has stepped up to be the first organization to help underwrite a massive rebuilding project at the pier.
Sneed is told Navy Pier officials have scheduled a news conferenceThursday morning to announce the deal. Under the agreement, Navy Pier will retain its name, but it is expected the Gateway Park area will be renamed Polk Park. It is unclear how long the naming rights will last.
