Farpoint Development unveils a plan for a $3.2 billion enclosed stadium and mixed-use development on the old Michael Reese Hospital site in Chicago, aiming to keep the Bears in the city. The plan includes a 75,000-seat stadium, $356 million in private financing for parking and infrastructure, and $600 million in public funding for infrastructure work. The proposed site bridges the gap between the South Side of Chicago and downtown, offering 5 million square feet of neighboring development opportunities.
The Bears have not commented on the plan and have previously rejected the site due to engineering challenges. Bears president Kevin Warren has focused on building a stadium next to Soldier Field, with a plan unveiled last spring that received mixed reviews from government officials. The team also owns land in suburban Arlington Heights where a stadium could be built.
The Bears lease at Soldier Field runs through 2033. This proposal adds another option to the ongoing discussion of the team’s future stadium location.
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