The Bears have pledged to contribute more than $2 billion to the project—over 70% of the total stadium cost. The remaining stadium funds are proposed to come from the Illinois Sports Facilities Authority (ISFA), a government entity that was created by the Illinois General Assembly in 1987 for the purpose of constructing and renovating sports stadiums for professional teams in the state of Illinois. The Bears’ proposal can be accomplished with the existing 2% hotel tax used to back ISFA bonds.
The Burnham Park Project includes a commitment to Diversity, Equity and Inclusion. The Stadium Project DEI program is designed to provide equitable access and opportunities to the diverse community throughout the city and state. It includes a four-phase approach to formalize efforts to develop and implement workforce, business and community goals, standards and expectations alongside key partners from inception through completion and beyond.
The DEI plan includes the Bears formalizing partnerships with key experts and organizations, beginning with city and state governments and community-based entities representing women as well as Black and Hispanic people.
The construction of a publicly owned stadium and associated Burnham Park improvements would be one of the largest building projects in the region’s history, representing $4.2 billion of direct capital investment while creating opportunities for a regional workforce.
The project would boast over $8 billion in regional construction economic impact, a $456 million annual economic impact post construction, the creation of 43,000 regional construction jobs and 4,200 permanent jobs post construction. Annual tax revenue from ongoing operations are projected to be 58% higher for the city of Chicago and 41% for the state of Illinois with the replacement stadium over the current operation of Soldier Field.
The plan also involves the easing of traffic circulation in the area via:
- Improved ramps and interchanges at 18th Street.
- A new parking deck built on an existing surface lot.
- Improved access to DuSable Lake Shore Drive via a new overpass, relocation of a Lake Shore Drive exit and new ramps to the campus.
- A new lower level for McFetridge Drive.
The changes are expected to result in a 50% increase in campus capacity for events, a 10- to 20-minute reduction in event exit times, and 1,200 vehicle hours of congestion removed on an average day at the intersection of DuSable Lake Shore Drive and McFetridge Drive.
The infrastructure plan for the project is split into three phases. Phase 1 consists of requirements to open the stadium including transportation, roadways and utilities, and would cost an estimated $325 million. Phase 2 would maximize the stadium and surrounding campus, cost $510 million and include a bus depot expansion, new parks and playfields. Phase 3 would further enhance the campus, cost $665 million and consist of additional transportation improvements, retail and public attractions.
The Bears are aiming to break ground in the summer of 2025, with a planned grand opening in the summer of 2028.
To stay up to date on news and information regarding the stadium project, visit StadiumforChicago.com.
