Officials didn't announce the team's name or the exact location of the approximately 8,000-seat stadium in Lake County.
The team will come to Zion in 2010 and be part of the Northern League, which includes the Schaumburg Flyers in suburban Chicago.
Costner says Zion is the ideal location because of its "quaint and affordable setting."
State officials say the project will bring 300 jobs to the community of 25,000.
Costner's name has been synonymous with baseball since his roles in the films "Bull Durham" and "Field of Dreams" in the 1980s.
