It’s a huge week for the Chicago Bears and its fans.
Ahead of the 2024 NFL Draft, in which the Bears hold the No. 1 pick, the team has just revealed in a press conference its proposal for a new state-of-the-art, enclosed stadium next to the lake. The stadium would be located just south of Soldier Field, where the Bears currently play. In addition to Bears games, the stadium would also host concerts and other entertainment events, and would be usable year-round thanks to a fixed translucent roof.
A world-class destination for a world-class city.
— Chicago Bears (@ChicagoBears) April 24, 2024
Introducing initial designs for a new lakefront stadium. #StadiumForChicago
The team is pledging $2.3 billion to the project, and estimates that it will create 4,200 new annual jobs and have an annual economic impact of $456 million once completed. The total cost is expected to be $4.7 billion—$3.2 billion for the stadium and $1.5 billion for infrastructure improvements.
The club is seeking $900 million in public funding through the Illinois Sports Facilities Authority, and will also apply for a $300 million NFL loan. Taxpayers would be on the hook for the infrastructure improvements to the Museum Campus, but Mayor Brandon Johnson said the project would not raise taxes for residents.
The new stadium would be publicly owned and include 14 acres of athletic fields and recreational park space. The team aims to break ground in the summer of 2025, with a planned grand opening in the summer of 2028.
This latest move comes as a pivot by the Bears. The team purchased the former Arlington International Racecourse for $197 million in 2023, with the intention of turning the 326-acre site into a mixed-use development. However, negotiations regarding property taxes in Arlington Heights caused the club to switch its focus back to a new stadium in Chicago.
Soldier Field has been the home of the Bears since 1971. It has a capacity of 62,500 for football games, making it the second smallest stadium in the NFL. In 2001, Soldier Field underwent major renovations—largely funded by public dollars—that were criticized and resulted in the stadium being delisted as a National Historic Landmark. The Bears plan to keep Soldier Field’s historic columns at the new site, according to team CEO/President Kevin Warren.
Check out more renderings of the proposed stadium below.
