CHICAGO — The Chicago Bears are prepared to make a massive commitment to building a domed lakefront stadium to replace Soldier Field that would be a top location to host the Super Bowl, the NCAA Final Four and other major events.

According to multiple reports, including the Chicago Tribune, the Bears confirmed Monday they are planning to provide more than $2 billion in private funding to build a publicly-owned domed stadium and park space along the lakefront.

“The Chicago Bears are proud to contribute over $2 billion to build a stadium and improve open spaces for all families, fans and the general public,” Bears President and CEO Kevin Warren said in a statement.

“The future stadium of the Chicago Bears will bring a transformative opportunity to our region — boosting the economy, creating jobs, facilitating mega-events and generating millions in tax revenue. We look forward to sharing more information when our plans are finalized.”

A source familiar with the team, according to the reports, says the lakefront site would replace Soldier Field and increase open space on the museum campus by 20%. The campus encompasses Soldier Field and three museums.

Though the Bears have not released renderings of the proposed stadium, the source says its location would be in the area of Waldron Drive, just south of the current site of Soldier Field, and would maintain parking in the south lot. The project would include open plazas, paths, landscaping and access to the lakefront.

Mayor Brandon Johnson released a statement Monday morning in support of the Bears’ stadium plans.

“I have said all along that meaningful private investment and a strong emphasis on public benefit are my requirements for public-private partnerships in our city,” Mayor Johnson said in his statement. “The Chicago Bears’ plans are a welcome step in that direction and a testament to Chicago’s economic vitality.

“I look forward to subsequent talks with the Bears, state leadership and community stakeholders about how we can continue to responsibly support the aspirations of the team, its fans and all residents of the City of Chicago.”

According to the source, Soldier Field would be torn down, except for the famous colonnades in honor of veterans. The plan would then be to construct parks and athletic fields for public use on the site.

According to a McGuire Research poll — obtained by ESPN and other sources — of 500 registered voters living in the City of Chicago, 80% of those polled supported a domed stadium that would be able to host major events on the museum campus. Additionally, 77% supported the proposed location that would keep the Bears in the city, and more than 60% supported using public money to support a publicly-owned stadium.

Arlington Park plans

Just over a year ago, it seemed the Bears would move to the northwest suburbs of Arlington Heights, but these latest plans now make that appear unlikely to happen.

The Bears completed their purchase of Arlington Park, the former site of Arlington International Racecourse, for $197.2 million in February 2023 and subsequently began demolition on the site.

However, the Bears and local school districts have been unable to agree on the valuation of the property. A Tribune report last month said that while the Cook County Board of Review proposed cutting the Arlington Park property valuation, it ruled to keep the property’s tax rate unchanged.

Faced with a tax burden larger than hoped for on the Arlington Park property, Bears officials turned their attention to other locations for a new stadium, Warren saying the franchise had shifted its stance from Arlington Park being the sole focus for a new stadium to looking at a few options.

A Crain’s Chicago Business report early last month said the Bears shifting their focus to a lakefront location was not a negotiating tactic with Arlington Heights, but rather the real goal of the team. Last week, Crain’s reported the Bears were close to revealing a plan for a new domed lakefront stadium, featuring hundreds of millions in private financing and public amenities.

Monday’s statement by Warren confirmed this plan, Chicagoland Chamber of Commerce President and CEO Jack Lavin telling the Tribune the proposal is “impressive and exciting.”

“This investment will enhance our reputation as a world-class city and tourist and convention destination,” Lavin told the Tribune.

Stadium funding

The Bears’ commitment to provide more than $2 billion in private funding is, of course, a huge step toward a domed lakefront stadium coming to fruition, partly because one of the city’s MLB franchises, the White Sox, also wants to build a new stadium.

A recent Crain’s report said Illinois state legislators have told the White Sox and Bears that if they each want a new stadium, they would need to team up to make it happen. The White Sox have proposed to build their new stadium on a 62-acre parcel of land in the South Loop known as “The 78.”

According to a Chicago Sun-Times report last week, the developer that oversees “The 78” said he’s trying to create a “financing partnership” with the Bears that could open the door for Chicago to build two stadiums at once, addressing legislators’ concerns.

According to the report, the developer said his company has spoken with the Bears about a possible financing partnership. A Bears spokesman refused to comment on a possible partnership with the White Sox, the Sun-Times said.