Billed as the largest convention center in the country, the venue consists of four buildings with a combined total of 2.6 million square feet of exhibit space.
While it's a large venue, the indoor facility would likely not be able to hold as many people as Grant Park, the outdoor site of Obama's election night event in 2008.
The website for McCormick Place says it can seat up to 18,000 people, whereas Grant Park held 240,000 people four years ago.
With Election Day on November 6th, holding the event inside could also be an advantage in the case of inclement weather.
The president's re-election campaign headquarters are located in Chicago.