According to this Adam Rittenberg article, it's likely that one of two candidates will be chosen to be the long term site of the B1G Football Championship Game and the Men's and Women's Basketball Tournaments: Chicago/Hoffman Estates and Indianapolis.
The two groups both made detailed presentations Tuesday before Big Ten athletic directors and other officials at the league's spring meetings. Although other cities and facilities have expressed interest in hosting future Big Ten football championship games -- Detroit, Cleveland, Green Bay -- the league is almost certainly going to go with Chicago/Hoffman Estates and/or Indianapolis.
Indianapolis is bidding to host the football championship game at Lucas Oil Stadium and both the men's and women's basketball tournaments at Conseco Fieldhouse. The [Chicago/Hoffman Estates] group would host the football championship at Soldier Field, the men's basketball tournament at the United Center and the women's hoops tournament at Sears Centre in suburban Hoffman Estates.
Could other cities still get involved? A rotation of championship sites remains possible, Big Ten commissioner Jim Delany said. "[But t]hose are the two cities we're talking to right now. We are where we're going to be. That's who we've spoken with so far. We would send the signal, but for now, these are the two cities we've sent signals to."
The inaugural Big Ten football title game takes place Dec. 3 at Lucas Oil in Indianapolis. Big Ten basketball tournaments have been held at both Conseco Fieldhouse and the United Center, although Indianapolis has hosted the events exclusively since 2008.