ABC/Paula LoboEarlier this month, Fall Out Boy bassist Pete Wentz teased a possible new EP titled Lake Effect Kid. Speaking with ABC Radio, Wentz confirms that the band is "just about done" with the EP, and are aiming to release it around their giant September 8 hometown show at Chicago's Wrigley Field.

"It's a very Chicago-based idea," Wentz says of the EP's title.

As for what's on the EP, Wentz says it'll include a full version of the Fall Out Boy demo "Lake Effect Kid," which was recorded around the band's 2008 album Folie a Deux, as well as a "semi-new" song and a "really new" one.

Putting the EP together also allowed Wentz to reflect on the Folie a Deux days, which was a tumultuous time in Fall Out Boy's history. Coming off the huge success of 2007's Infinity on High, Folie a Deux was met with mixed fan reaction and was considered a commercial disappointment. That, coupled with growing personal tensions between the band members, led Fall Out Boy to go on hiatus in 2010.

Despite all that, Wentz says he has "fond memories" of the Folie a Deux era.

"We did a lot of firsts at that time," Wentz explains. "We went to Macau, we went to a lot of places in the world for the first time, played arenas in some places for the first time, which was really cool."

As for the actual album, Wentz still isn't sure exactly how to measure the response to Folie a Deux, which did go gold and produced the single "I Don't Care."

"When you're in the thing, it's hard for you to contextualize how people really feel about it, versus how you felt like people felt about it," Wentz says.

Fall Out Boy starts a U.S. tour August 29 in Uniondale, New York.

Copyright © 2018, ABC Radio. All rights reserved.