The transit study they reference is a joke, the $6.5 billion price they are trying to extort from the state is a joke, their finance partners are a joke.
Other than that, I hope they succeed.
But in all honesty I think there is some small chance that this could work, but that certainly doesn't involve billions from the state. Tie this project in with the casino and a soldier field expansion/doming (some deal worked out to keep the Bears) and remove half of the transit elements/state funding and you get to something that could work if the stars all align.
Not holding my breathe.