Governor Wants Chicago Bears to Pay $534 Million Stadium Debt

Gov. J.B. Pritzker is putting a price tag on the Chicago Bears’ suburban ambitions: more than half a billion dollars in debt tied to Soldier Field renovations.

The governor said this week that before lawmakers consider the property tax break the team is seeking for its Arlington Heights stadium plan, the Bears will need to deal with the $534 million still owed on Soldier Field’s 2003 renovation, Crain’s reported.

“We need the Bears to pay off what’s owed on the existing stadium,” Pritzker said. “If they want a PILOT [payment-in-lieu-of-taxes] bill, or some other help, we’re going to make that a prerequisite.”

The team has been lobbying Springfield for a payment-in-lieu-of-taxes law that would let megaproject developers negotiate fixed annual payments instead of facing regular property tax assessments. The proposal would apply statewide but is central to the Bears’ $5 billion vision for Arlington Heights, where Kevin Warren, president of the team’s organization, has said they hope to start construction this year. Without legislation, the project is stalled, Warren said.

The debt complicates things. Soldier Field’s bonds are backed by a hotel tax and annual city and state subsidies, with shortfalls covered by Chicago’s share of state tax revenue. Even if the Bears leave, they aren’t directly tied to repayment. But as debt service ramps up over the next decade, the cost of walking away without a plan would land on taxpayers — a sticking point for legislators already wary of another stadium bailout.

The Bears’ lease with the Park District runs through 2033, but the team has signaled it could try to exit earlier, citing frustration over maintenance. Terminating the lease would require a fee, which shrinks each year, but it wouldn’t come close to erasing Soldier Field’s debt.

Pritzker has opposed using state dollars to fund stadium construction in the past, though he’s left the door open to infrastructure support. He’s also made clear his preference for keeping the Bears in the city, but stopped short of tying state assistance to location.

“They’re a private business. They can go wherever they would like to go,” he said. “But I would like them to stay in the city of Chicago.”

Lawmakers, meanwhile, aren’t convinced. State Rep. Kam Buckner said the governor’s stance reflects growing pressure to make the Bears address “unfinished business” before Springfield helps them move.

“Leaving the city high and dry without having a way to address that debt is the wrong thing to do,” Buckner said.

— Eric Weilbacher