The Mustangs were originally awarded an expansion franchise in the Professional Arena Soccer League on September 25, 2012.

They defeated the Cleveland Freeze 10–3 in the semifinals before stopping Hidalgo La Fiera 14–5 in the Newman Cup Final.

That victory also earned the United States Open Cup for Arena Soccer title.

[4] On August 12, 2024, the Chicago Mustangs officially announced that they would field a women's team for the 2024-2025 season.

Mustangs Premier home games are played at Grand Sports Arena in Hoffman Estates, Illinois or Sears Centre.