As part of the settlement, the archdiocese agreed to release some documents about the sex abuse, including a deposition given by Cardinal Francis George, Catholic News Service reported.
"My hope is that these settlements will help the survivors and their families begin to heal and move forward," George said. "I apologize again today to the survivors and their families and to the whole Catholic community. We must continue to do everything in our power to ensure the safety of the children in our care."
The archdiocese and attorneys for the plaintiffs spent two years in mediation to reach the settlement.
"I call it a great beginning toward not just accountability but toward the kind of transparency that has been lacking in the clerical culture, not just in the Archdiocese of Chicago but elsewhere," George said. "It isn't the end. It isn't a solution, but a beginning to a more cooperative solution to what remains a crisis."