A $10 billion development proposal unveiled in Chicago on November 12 could give the Chicago Bears another option for a new stadium while bringing a major mixed-use redevelopment to the city’s South Side.
Capri Investment Group and GRIT Chicago have introduced a vision for Bronzeville Lakefront, a proposed 100-acre sports, entertainment, housing and cultural district anchored by a domed stadium with approximately 75,000 seats.
The development would transform the former Michael Reese Hospital site and surrounding properties into a year-round destination featuring more than 5,000 homes, hotels, retail, offices, recreational facilities and public spaces.
The proposal comes as the Bears weigh their options for a new home, including their property in Arlington Heights, Illinois, and a potential stadium in Hammond, Indiana. The developers believe Bronzeville Lakefront could keep the NFL franchise in Chicago while attracting substantial investment to surrounding South Side communities.
75,000-Seat Stadium Anchors Bronzeville Lakefront
The proposed domed stadium would accommodate approximately 75,000 spectators and host Bears games, concerts, major sporting competitions and other national events.
The developers estimate that the stadium would require approximately 30 to 40 acres, including a 300-foot security perimeter. Their preliminary designs indicate that the expanded development footprint could accommodate the facility without encroaching on active railroad operations.
The revised proposal combines the approximately 48-acre former Michael Reese Hospital property with Prairie Shores and proposed air rights over the McCormick Place Marshaling Yard.
This expanded footprint addresses concerns surrounding earlier proposals about whether the former hospital site could accommodate a stadium and its security requirements.
The development team also envisions connecting the stadium with the McCormick Place convention campus, surrounded by hotels, restaurants and entertainment facilities.
More Than 5,000 Homes and New Commercial Facilities Planned
Housing is a major component of Bronzeville Lakefront. The developers propose more than 5,000 residential units across the expanded district and nearby locations, including affordable, senior, workforce and student housing. At least 1,000 units would serve affordable and senior housing needs.
The proposal also includes changes to Prairie Shores, a five-building apartment community constructed between 1957 and 1961. Developers propose retaining and rehabilitating two towers while providing up to 1.5 replacement apartments for every existing unit affected by the stadium plan. This could produce approximately 1,500 replacement apartments.
A proposed Community Benefits Agreement would establish tenant protections, including priority access to new housing, five years of rent protections and additional assistance for longer-term residents.
Beyond housing, the development would include:
- Approximately 2,000 hotel rooms.
- 300,000 square feet of retail shops and restaurants.
- 400,000 square feet of office space.
- A 500,000-square-foot youth sports complex.
- A 400,000-square-foot health and wellness center.
- Approximately 300,000 square feet of expanded McCormick Place facilities.
Infrastructure plans include a 28-acre public park, more than 3,500 structured parking spaces, improved pedestrian connections and a proposed 29th Street Metra station.
Developers Project $14B in Economic Activity
The developers’ preliminary feasibility studies estimate that Bronzeville Lakefront could generate approximately $14 billion in regional economic activity during development and construction, supporting an estimated 60,000 construction-related jobs.
Once operational, the district could generate approximately $1.5 billion in annual economic activity and support 11,000 ongoing jobs.
The development team also identifies more than $3 billion in potential contracting opportunities for minority- and women-owned businesses. Proposed commitments include directing at least 30% of construction contracts to minority-owned firms and 10% to women-owned firms.
These figures represent preliminary projections and proposed commitments rather than guaranteed economic outcomes.
Proposed Financing and Offer to Purchase Bears’ Arlington Heights Property
The developers propose a financing structure combining private investment, stadium financing and public infrastructure funding.
Under the preliminary framework, the stadium would be publicly owned, with substantial contributions from the Bears. Potential financing sources include an upfront lease payment from the team, stadium naming rights, personal seat licenses, NFL financing programs and the potential refinancing or issuance of Illinois Sports Facilities Authority bonds.
The developers also identify potential public infrastructure funding through tax increment financing, sales-tax-backed bonds and transportation programs.
The proposal arrives as Illinois lawmakers consider legislation that could establish new financing mechanisms for publicly owned sports stadiums.
In another significant part of the announcement, Capri and its investment partners say they are prepared to purchase the Bears’ Arlington Heights property if the team’s existing investment there prevents it from considering a Chicago location. They would also offer the Bears an opportunity to participate in the surrounding mixed-use development.
What Happens Next?
The development team includes Capri Investment Group, GRIT Chicago, Prairie Shores owner Golub & Co. and the Metropolitan Pier and Exposition Authority. AECOM is providing infrastructure planning, Gardiner & Theobald is handling cost consulting, and Studio Inference is involved in architecture and urban planning.
However, the proposal remains in its early stages. The Bears have not publicly endorsed the Bronzeville location, and the development still requires further financing arrangements, technical reviews, community engagement and government approvals.
The developers are preparing an updated infrastructure plan for submission to the City of Chicago as part of the existing Bronzeville Lakefront redevelopment process.
If advanced, the proposal would transform a significant section of Chicago’s South Side into a major sports, housing and entertainment district, with the Bears’ proposed stadium serving as its centerpiece.
The Bronzeville Lakefront proposal adds another major stadium development to the growing list of large-scale sports construction projects in the United States. In Las Vegas, the Athletics’ $2.1 billion ballpark has already passed the halfway mark, with construction advancing toward its February 2028 completion. The A’s Las Vegas ballpark provides another example of the scale of investment and construction involved in delivering a new professional sports venue.
Bronzeville Lakefront Redevelopment: Project Factsheet
- Location: Former Michael Reese Hospital site, Bronzeville, Chicago, Illinois
- Proposed development investment: $10 billion
- Development area: Approximately 100 acres
- Proposed stadium: 75,000-seat domed stadium
- Housing: More than 5,000 units
- Affordable and senior housing: At least 1,000 units
- Hotels: Approximately 2,000 rooms
- Retail: 300,000 square feet
- Office space: 400,000 square feet
- Projected construction-related jobs: 60,000
- Projected ongoing jobs: 11,000
- Projected regional economic activity during development and construction: $14 billion
- Lead development partners: Capri Investment Group and GRIT Chicago
- Announcement: November 12, 2026
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