A group of developers released a proposal Thursday, November 12, for a $10 billion domed stadium complex to house the Chicago Bears on the South Side. The motion comes amid the team’s ongoing efforts to vacate Soldier Field.
The proposal is the work of development partners Capri Investment Group, lead by executive chairman Quintin E. Primo III, and GRIT Chicago, according to a release.
The proposal builds on the existing Bronzeville Lakefront project. The plan seeks to turn the former Michael Reese Hospital site (2929 S Ellis Ave.) into an estimated 100-acre sports, entertainment, culture, and housing development.
Central to the proposal is the stadium itself, which would accommodate approximately 75,000 spectators. In addition to Bears games, the stadium could host live entertainment and other major sporting events.
Developers also plan to construct more than 5,000 residential units both onsite and in surrounding offsite locations. These residential properties would reportedly include a combination of affordable, senior, and student housing.
Proposal precedes fall veto session
The proposal comes ahead of the Illinois fall veto session next week.
During the session, state lawmakers will consider legislation which could create financial pathways for a publicly-owned stadium in or outside of Chicago.
The Bears have considered numerous suburban sites for a new stadium over the past few years, most notably investing in property in Arlington Heights, and proposing a site in Northwest Indiana.
Developers posit the Bronzeville Lakefront project would keep The Bears in Chicago, while spurring economic investment in the South Side.
“This is about much more than building a stadium or keeping a football team in Chicago,” Primo said.
“We have an extraordinary opportunity to retain one of our city’s most important institutions while directing transformative investment toward South Side communities. Our vision is to make the Bears a catalyst for new housing, jobs, businesses and economic opportunity that will benefit Chicago long after the final whistle blows.”
