Report: Bears to Invest $2B in Publicly Owned Lakefront Stadium

The expectation for 12-plus months has been that the Chicago Bears plan to build their next stadium away from downtown Chicago in Arlington Heights, Illinois. Ownership closed a deal approximately 13 months ago on a 326-acre property that formerly housed the Arlington International Racecourse. The property was purchased for roughly $197.2 million in 2021. A recent report by Courtney Cronin indicates the Bears are shifting course, however. Cronin reports that the Bears now plan to build a new publicly-owned lakefront stadium in Chicago near the current location of Soldier Field.

BREAKING: The Chicago Bears are shifting their quest to build a new domed stadium away from Arlington Heights and plan to invest $2 billion to fund a new publicly-owned lakefront stadium in Chicago, a source confirmed to ESPN.

— Courtney Cronin (@CourtneyRCronin) March 11, 2024

Development in Arlington Heights has notably not begun. The site was expected to feature a multibillion-dollar stadium project, expanding to include restaurants, retail shopping, and real estate. Ownership has experienced a shift in thinking and now allegedly plans to pour $2-plus billion into a publicly owned domed stadium.

Renderings of the proposed lakefront stadium have not been released. Cronin reports the location would be immediately south of the current site of Soldier Field and maintain parking in the south lot. Keeping the Bears in Chicago and within their current general location would be considered a major victory for Bears fans everywhere who weren’t looking forward to making the commute to Arlington Heights to watch their beloved team play.

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. The Chicago Bears’ plans are a welcome step in that direction and a testament to Chicago’s economic vitality.

— Mayor Brandon Johnson (@ChicagosMayor) March 11, 2024

Keeping the Bears in Chicago is the right decision.