— Lowes Sauna & Spa has signed a multi-year agreement with the city of Chicago to build a $3.9 billion sauna complex in the city’s downtown core.
The company says it will spend $1.4 billion to build the facility, which will be the largest in the world, with over 1,500 saunas and water sports facilities across the city.
It will also add more than 3,000 full-time jobs in the facility and increase the area’s economic base by $1 billion over the next 10 years, according to a press release from the company.
Lows says it expects to create 1,300 new jobs and provide more than 1,000 new jobs to nearby businesses and residents by the end of the 2028-29 fiscal year.
As part of the agreement, Lowes will invest $3 million in the project.
“The new high-performance sauna system will provide residents, business and visitors with a world-class, convenient and clean facility for all of their outdoor recreation needs, from water sports to outdoor dining and more,” said Michael Wiese, president of the company, in a press statement.
The facility will also provide access to water and other amenities at a fraction of the cost of the existing facility, including an indoor-outdoor pool, outdoor tennis courts, fitness studios, fitness classes, spa, indoor and outdoor fitness equipment, spa amenities, and an indoor pool.
This is the first time that a sauna has been built in the U.S. as part of a massive public-private partnership, according the Chicago Tribune.
Other companies have built saunos in the country, including Kia Motors, and many cities have been building their own facilities, like Chicago.
Chicago has been looking for a new way to make money.
Mayor Rahm Emanuel has already announced a $20 million plan to make Chicago the world’s first city to build its own sauna, and Lowes has committed to $2 billion to support the project over the coming decade.