The Cygnus X region is known as the richest star-forming region within a few kpc and is home to many particle accelerators such as supernova remnants , pulsar wind nebulae or massive star clusters . The abundance of accelerators and the ambient conditions make Cygnus X a natural laboratory for studying the life cycle of cosmic-rays ( CRs ) . This naturally makes the Cygnus X complex a highly interesting source in neutrino astronomy , in particular concerning a possible detection with the IceCube Neutrino Observatory , which has a good view of the northern hemisphere . In this paper , we model the multiwavelength spectrum of the Cygnus Cocoon , for the first time using a broad data set from radio , MeV ( COMPTEL ) , GeV ( Fermi ) , TeV ( Argo ) and 10s of TeV ( Milagro ) energies . The modeling is performed assuming a leptohadronic model . We solve the steady-state transport equation for leptons and hadrons injected homogeneously in the region and test the role of diffusive transport and energy loss by radiation and interaction . The result shows that diffusion loss plays a significant role in Cygnus X and always exceeds the advection loss as well as almost all other loss processes . The best-fit parameters we find are a magnetic field of B = 8.9 \times 10 ^ { -6 } G , a target density of N _ { t } = 19.4 cm ^ { -3 } , a cosmic ray spectral index of \alpha = 2.37 and neutral gas distribution over a depth of 116 pc . We find that the fit describes the data up to TeV energies well , while the Milagro data are underestimated . This transport model with a broad multiwavelength fit provides a neutrino flux which approaches the sensitivity of IceCube at very high energies ( > 50 TeV ) . In the future , the flux sensitivity of IceCube will be improved . With this rather pessimistic model , leaving out the influence of possible strong , high-energy point sources , we already expect the flux in the Cygnus X region to suffice for IceCube to measure a significant neutrino flux in the next decade .