Farpoint Visualizes Chicago Bears Stadium in Bronzeville

The developer with ambitious plans for the Bronzeville Lakefront put pictures with its pitch for a Chicago Bears stadium, although the team’s plans are far from certain.

Farpoint Development released renderings for a $3.2 billion domed stadium on the 49-acre site of the former Michael Reese hospital on the South Side, aiming to present an alternative to the team’s two other options, Crain’s reported. The team is also considering a redevelopment of the Arlington Heights racetrack and a domed stadium near Soldier Field.

The Bronzeville pitch includes an entertainment district, hotels and a 20-acre park bridging over Lake Shore Drive, connecting the stadium to the lakefront, proximity to which has been one of the National Football League team’s main requirements.

The developer argues the site offers the best of both worlds: an urban core location and room for ancillary developments — retail, dining and multifamily projects — that could generate additional revenue for the team.

The stadium would be privately financed by the Bears, but the developer is pitching $600 million in state infrastructure funds to prepare the site for development, including utilities, roads and environmental work.

That departs from the Bears’ other lakefront proposal, which sought a $900 million upfront public subsidy. By financing the stadium privately, developers see the plan as more palatable to political leaders wary of direct public subsidies.

Still, hurdles remain. The Bears haven’t publicly engaged with the proposal as of late, but rescinded a rejection in the fall after Farpoint updated its plans to take out a conflict with Metra tracks it previously planned to build over.

Insiders suggest the team is still focused on either advancing its lakefront vision or moving forward in Arlington Heights. The narrow footprint of the Michael Reese site has also raised concerns about feasibility.

Another complication is the adjacent Prairie Shores apartment complex, partially owned by Farpoint. The developer says the stadium could fit without impacting the complex, but demolishing units has been floated as a way to maximize the site — an option that would likely draw political pushback.

The city still owns the majority of the site and would need to contribute land, as well as cover about $40 million in debt tied to its acquisition. Public financing could also come from tax increment financing and leveraging the site’s federal opportunity zone status.

— Judah Duke