Hughes wrote the screenplay in less than a week. Filming began in September 1985 and finished in November. Featuring many Chicago landmarks, including the then Sears Tower, Wrigley Field and the Art Institute of Chicago, the film was Hughes' love letter to Chicago: "I really wanted to capture as much of Chicago as I could. Not just in the architecture and landscape, but the spirit."
Released by Paramount Pictures on June 11, 1986, the film became one of the top-grossing films of the year, receiving $70.1 million over a $5.8 million budget. It was enthusiastically acclaimed by critics and audiences alike, praising the light tone, Hughes' direction, the performances (particularly that of Broderick and Ruck), humor, soundtrack, and messages. In 2014, the film was selected for preservation in the National Film Registry by the Library of Congress, being deemed "culturally, historically, or aesthetically significant."