Bears Announce Lakefront Stadium Plans, Pledge $2B Contribution: Reports

CHICAGO — It looks like the Chicago Bears might not be going anywhere. The NFL team announced Monday it has shifted its focus from moving to Arlington Heights to building a new stadium near the current one in Chicago. The Bears are also open to contributing more than $2 billion to the project.

"The future stadium of the Chicago Bears will bring a transformative opportunity to our region — boosting the economy, creating jobs, facilitating mega events and generating millions in tax revenue," Kevin Warren, team president and CEO, said in a response to an ESPN story about the change of commitment. "We look forward to sharing more information when our plans are finalized."

Warren, who confirmed the $2 billion contribution from the team, said the new stadium will "improve open space for all families, fans and the general public to enjoy in the City of Chicago."

In February 2023, the Bears closed on a $197.2 million property agreement to buy the former Arlington Park racetrack and have since demolished a large portion of the site.

According to ESPN, the Bears' plans would shift to building a publicly owned domed stadium and park space, featuring year-round community amenities, immediately south of the current site of Solider Field while also maintaining parking in the south lot.

The Cook County Board of Review ruled last month that the Arlington property is worth $125 million, which is $30 million more than the team's original assessment of the property ($95 million) and $65 million over what the Bears recently said Arlington is worth ($60 million).

Soldier Field, which opened in 1924, is the NFL's oldest stadium. The Bears began playing there in 1971 after leaving Wrigley Field. It has a football game capacity of 61,500 fans, which is the smallest in the NFL. The Bears' lease at Solider Field expires in 2033.

POLITICIAN REACTION

• "From the Bears' first announcement to purchase Arlington Park, I've been open to the team's move to Arlington Heights, but reaching a fair deal for all has always been the priority," State Rep. Mark Walker (D-Arlington Heights) said in a statement. "As I've said before, I trust the Bears when they say they’re exploring all options in the best interest of their company. If they go forward with their lakefront plan, it's our responsibility to make the best decision for Arlington Heights, Rolling Meadows, and our neighboring communities as well. I look forward to the many interesting proposals to come on the future of Arlington Park like new business development, more affordable housing, or welcoming centers for new arrivals."
• "I have said all along that meaningful private investment and a strong emphasis on public benefit are my requirements for public-private partnerships in our city," Chicago Mayor Brandon Johnson said. "The Chicago Bears' plans are a welcome step in that direction and a testament to Chicago's economic vitality. I look forward to subsequent talks with the Bears, State leadership and community stakeholders about how we can continue to responsibly support the aspirations of the team, its fans and all residents of the City of Chicago."
• “We have all experienced the many twists and turns that this project has taken over the past three years and we find ourselves in a very similar situation today. The Village’s focus remains on finding a path forward to a successful redevelopment of the former Arlington Park site. The property remains a major asset to the community and region, and it has tremendous potential,” Arlington Heights Mayor Tom Hayes said. “The Village has always acted in good faith and partnership with the Chicago Bears and the School Districts throughout this discussion, while protecting our community’s interests, and we will continue to do so as the process moves ahead.”

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