Rides in the enclosed, heated gondolas are free until noon Wednesday or after the first 1,700 riders - whichever happens first.
The free rides are to celebrate the kickoff of 2017 and to remind people that the Centennial Wheel is open year-round.
The ride got its name in honor of Navy pier's 100th anniversary. The view from atop the new 196-foot-tall wheel is breathtaking - and it's 49 feet taller than the old one.