Bears unveil plan for lakefront stadium, seek public funding to make it happen

CHICAGO -- The Chicago Bears unveiled a nearly $5 billion proposal Wednesday for an enclosed stadium next door to their current home at Soldier Field as part of a major project that would transform the city's lakefront, and they are asking for public funding to help make it happen.

The plan calls for $3.2 billion for the new stadium plus an additional $1.5 billion in infrastructure. The team and the city said the project would add green and open space while improving access to the city's Museum Campus and could also include a publicly owned hotel.

"This is not an easy project, but Chicago doesn't like it easy," Bears president Kevin Warren said.

The announcement at Soldier Field comes during a busy week for the Bears. They are expected to take 2022 Heisman Trophy winner Caleb Williams with the No. 1 pick in the draft on Thursday night and bank on the USC quarterback to solidify a position that has long been a sore spot for the founding NFL franchise.

The team said last month it was prepared to provide more than $2 billion in funding toward a publicly owned stadium in the city.

The proposal calls for $2.025 billion from the Bears, $300 million from an NFL loan and $900 million in bonds from the Illinois Sports Facilities Authority. The funding from the ISFA would involve extending bonds of the existing 2% hotel tax.

The Bears said the project would generate $8 billion in economic impact for the region. It would be built in three phases and take up to five years. The new stadium would be constructed on a parking lot just south of Soldier Field, the Bears' home since 1971. The team's lease at the 100-year-old stadium runs through 2033.

Mayor Brandon Johnson gave a full-throated endorsement, saying the project is in line with