In a momentous press conference, the Chicago Bears unveiled their ambitious plans for a revolutionary enclosed stadium situated by the picturesque Lake Michigan. This state-of-the-art venue, earmarked for construction south of the iconic Soldier Field, is projected to transform the Chicago lakefront into a world-renowned destination.
The Bears, determined to elevate the city’s sports and entertainment landscape, have pledged a substantial $2.3 billion towards this groundbreaking project. This investment is expected to generate approximately 4,200 new jobs annually and contribute a staggering $456 million to the local economy upon completion.
The total cost of the project is estimated to reach $4.7 billion, with $3.2 billion allocated for the stadium itself and $1.5 billion dedicated to essential infrastructure enhancements. The team is actively seeking $900 million in public funding through the Illinois Sports Facilities Authority and will pursue a $300 million loan from the NFL.
Mayor Brandon Johnson has assured residents that the project will not result in any tax increases. The stadium, envisioned as a publicly owned asset, will encompass 14 acres of athletic fields and recreational parkland.
The proposed stadium represents a strategic shift for the Bears, who had previously intended to develop a mixed-use project on the former Arlington International Racecourse site. However, protracted negotiations over property taxes in Arlington Heights led the team to redirect its focus back to Chicago.
Soldier Field, the Bears’ home since 1971, has a seating capacity of 62,500 for football games, making it the NFL’s second-smallest stadium. Despite undergoing significant renovations in 2001, largely funded by public funds, the stadium has faced criticism and was removed from the National Historic Landmark registry.
The Bears plan to preserve Soldier Field’s historic columns at the new stadium, ensuring that the legacy of this iconic venue lives on. The proposed stadium is a testament to the Bears’ commitment to providing Chicago with a first-class sports and entertainment experience that will undoubtedly become a source of civic pride.
