A team of Chicago developers unveiled a $10 billion, 100-acre development plan Thursday for the former Michael Reese Hospital site — both as a Hail Mary to keep the Bears in Chicago and to meet a city-imposed deadline to submit updated plans.
The Bears previously rejected the Michael Reese site, saying it was too narrow and posed safety concerns because the stadium would have to be built on an active railroad line.
But with Capri Investment Group founder Quintin Primo joining GRIT Chicago, the group of developers and investors led by Farpoint Development that purchased the Michael Reese site, the partners have nearly doubled the size of the proposed Bronzeville Lakefront development.
They shared big plans to redevelop much of the South Side into a sports, entertainment and cultural district that would, of course, be anchored by a domed stadium in the widest part of the trapezoid-shaped site.
To further entice the Bears, Capri and his investment partners are willing to purchase the team’s property in Arlington Heights if “existing investment there poses a barrier to considering a Chicago location,” according to a press release.
A spokesperson for the development team declined to comment when asked if the updated plans had been shared with the Bears before Thursday’s announcement.
A Bears spokesperson declined to comment.
Renderings by Chicago-based design firm Studio Inference show a 75,000-seat glass stadium that would host the Bears in addition to other sporting events and concerts. High- and mid-rise buildings surround the stadium, as well as a large public park, an events stage and a youth sports complex, among other features.
“Our proposal was designed to meet the needs of the Bears while creating broader benefits for Chicago,” Primo said in a press release. “We believe Bronzeville Lakefront provides the team with a compelling stadium and development opportunity, and we are prepared to help resolve the issues that have prevented the Bears from seriously considering this location. Most importantly, we believe it can provide significant long-term value to Illinois taxpayers.”
Rendering of a domed stadium that will be part of Bronzeville Lakefront, a proposed $10 billion housing, culture, entertainment and sports development.
In addition to the 48.6-acre Michael Reese site, the project would include the neighboring five-building Prairie Shores apartment complex along King Drive between 26th and 31st streets. The property is owned by Golub & Co., which originally purchased it with Farpoint for an estimated $180 million in 2019.
Golub did not respond to a request for comment.
Plans call for the demolition of up to 1,000 units in Prairie Shores in the first phase and the construction of about 1,500 apartments. The developers said they would build 1.5 replacement apartments for every existing unit demolished.
Ald. Lamont Robinson (4th) represents the South Side neighborhood that includes the Michael Reese site, once purchased by the city for an Olympic village that was never built after the 2016 Summer Games were awarded to Rio de Janeiro.
“I want to be very clear: Before you can demolish Prairie Shores, you have to build the housing first. You have to have 1,000 housing units built before you can demolish a housing unit or move a family,” Robinson told the Sun-Times. “You have to have someone managing that. And the commitment is that before you can demolish a unit, you have to get the new property built. That’s a commitment that this developer has made.”
The developers are also proposing a community benefits agreement that would provide “priority treatment to affected households seeking to reside in new housing in or near the District, rent protections for five years, additional assistance for long-term residents, and oversight by a residents’ committee and independent monitor.”
“We recognize that redevelopment on this scale raises important questions for people who already call Prairie Shores home,” Zeb McLaurin, founder and CEO of McLaurin Development Partners and a GRIT member, said in a press release. “Our responsibility is to work with residents to develop a housing program that protects their interests and gives them a meaningful role in shaping the future. This project will improve housing opportunities for existing residents and create homes for future generations.”
In total, more than 5,000 homes are expected to be built on site and nearby, including affordable housing for seniors and students. The plan cited Lake Meadows as a potential housing site as well as “early discussions” with Illinois Tech to build on-campus housing.
It also proposed air rights to the McCormick Place rail yard to the east and an expansion of McCormick Place convention and meeting spaces by 300,000 square feet.
The Metropolitan Pier and Exposition Authority, which owns McCormick Place, said it supports efforts to boost Chicago’s economy.
“However, the Authority must follow its governance mission and adhere to legally mandated contracting procedures. The proposed Bronzeville project may provide exciting opportunities for Chicago, but it is still in its early stages. The MPEA looks forward to learning more about the plans and discussing them with our customers and community stakeholders. At this time, the Authority has not made any commitments related to the project,” an MPEA spokesperson said in a statement.
What sets the development apart from other projects aimed at wooing the Bears, developers say, is that the new stadium will be joined by hotels, recreational facilities and housing that would bring an economic boon to Bronzeville.
Developers estimate that housing, hotels, retail and commercial uses could generate about $135 million in annual tax revenue. They also project about $14 billion in regional economic activity over the course of its development, with about 60,000 construction-related jobs.
Second chance
If the Michael Reese Stadium project sounds familiar, that’s what it should be.
In March 2025, developers of the former Michael Reese Hospital site released a dazzling Hail Mary plan to build a $3.2 billion Bronzeville Stadium and an adjacent mixed-use development — with a large lawn stretching across Du Sable Lake Shore Drive to Lake Michigan.
Scott Goodman, principal of Farpoint Development, acknowledged then that he had not met with the Bears or finalized financing for the dome or the $600 million in state money needed simply to prepare the site for development.
The previous stadium’s construction cost, estimated at $3.2 billion, was the same amount the Bears assumed in 2024 when team president Kevin Warren stood alongside Mayor Brandon Johnson to unveil their preferred proposal for a lakefront stadium on the museum campus — a plan that has gotten stuck in the mud in Springfield and could face legal challenges because of the city’s lakefront protection ordinance.
Robinson acknowledged that the Bears had long rejected Michael Reese’s site. But he’s all for including it in the salad bar of Chicago stadium venues for the Bears to consider, in addition to the venue they already have in Arlington Heights.
“As alderman of the 4th Ward, I have to develop this site. I can’t let this site sit idle for another 20 years,” Robinson said. “We need more housing and we need to put that back on the tax rolls. The city needs resources and we need housing. … As the Bears have stated, they’re always looking for sites, and why don’t we put everything on the table and have the Bears look at them?”
Bronzeville Lakefront would cover 100 acres and include the former site of Michael Reese Hospital, which closed in 2008.
If the Bears refuse to take a second look, Robinson said the plan would serve to highlight the “beautiful lakefront venue” to other interested parties.
“There’s a lot of talk about changes to other ballparks. We’d be open to having those conversations,” Robinson said, acknowledging the Sox and Stars as possibilities.
Without an anchor such as a stadium, Robinson said the Michael Reese development could remain bogged down with another municipal deadline looming. GRIT has until Dec. 14 to submit an updated infrastructure plan for the site as part of the Bronzeville Lakefront redevelopment process. The development team said it is preparing a new infrastructure plan to submit to the city and the proposal will continue to be refined with stakeholders, including the Bears.
“That’s why this plan came out. So many people can look at it and decide if they’re interested in the site,” Robinson said. “We can’t do nothing. We have to make plans… We have to develop them. We have to get things done.”
Bronzeville Lakefront would be a massive public-private undertaking and comes days before lawmakers in Springfield are set to consider financing tools that could sweeten the deal for the Bears to stay in Illinois.
Capri and GRIT’s plan envisions a public stadium similar to Allegiant Stadium, home of the Raiders. Allegiant is owned by the Las Vegas Stadium Authority and was partially funded by taxpayers through a tax on hotel rooms.
Developers said the Bears could help foot the bill through the sale of stadium naming rights and personal seating licenses, NFL financing programs, and refinancing and bond issuances from the Illinois Sports Facilities Authority. It would also rely on a mix of city, state and federal dollars, as well as tax increment financing, sales tax-backed bonds and transportation funding.
The development team also said it recently signed a memorandum of understanding with “a major capital provider.”
“The difference between a vision for development and development that gets built is the ability to bring together the land, capital, technical expertise and partnerships needed to make it happen,” Primo said in a statement. “We have assembled an experienced team and developed a comprehensive plan that connects the stadium opportunity with housing, infrastructure and commercial investment.”
Contributor: Patrick Finley
Gn sports
