Chicago Park District develops $630 million renovation plan for Soldier Field after Bears leave

With the future home of the Chicago Bears still in flux, the Chicago Park District is proposing a major makeover for Soldier Field for if and when the Bears move to a new stadium.

The $630 million proposal would upgrade the lakefront stadium and turn the surrounding area into a year-round event space if the team leaves, but questions remain about how the project would be funded and whether taxpayers could be on the hook.

What would Soldier Field look like without its biggest tenant? The Park District is already making plans for the possibility that the Bears leave.

City leaders are preparing for a future where Soldier Field might no longer be home to the Bears, and that future could come with a $630 million price tag.

The Chicago Park District is pitching an expensive renovation plan that would upgrade the stadium and transform the surrounding area into a major concert and event destination

The proposal includes $130 million in stadium upgrades, and roughly $500 million in surrounding infrastructure work.

Justin Marlowe, Director of the Center for Municipal Finance at the University of Chicago, said it's realistic for Soldier Field to survive financially without the Bears, and called the Park District's proposal a smart move.

"Soldier Field really is a very valuable asset for Chicago," he said. 

Park District leaders said Soldier Field already makes more than 80% of its money from events other than Bears games – including concerts, international sporting events, and large civic gatherings.

According to the district, Soldier Field brought millions to the city's tourist economy, especially in hotel revenue — including $39 million from Taylor Swift's "Eras Tour" stop in June 2023, and $85 million during Beyoncé's "Cowboy Carter Tour" stop in May 2025.

Marlowe said, without the Bears, the Park District could have more control over the stadium and its profits.

"The ability to directly control the programming and to keep more of the revenue that's generated out there is definitely an attraction to the Park District," he said.

According to Marlowe, the financial case for the Park District's proposed makeover could be strong.

"The economic impact numbers are pretty persuasive, and the business case is definitely there for the Park District to do this," he said. 

Turning the stadium into a major concert venue could bring in more spending from outside Chicago.

"If Beyoncé plays three nights at Soldier Field, and draws people from Wisconsin and Iowa and Missouri, and all the things we know happen with those big events, that is a net new economic impact," he said.

The proposal also comes as the Bears continue pushing for public support for a new stadium project, saying a new facility would require state assistance.

The Park District has not announced a specific funding plan for the proposed renovations to Soldier Field. Under the current lease, the Bears could owe about $90 million if they leave before 2033 — money officials said could help fund improvements.

But that would cover only a fraction of the cost, meaning the rest could require significant public funding or additional state and city support.

"The devil is really going to be in the details on the financing. I think the Park District is being strategically vague right now about how they plan to pay for this, but the message is clear, and that is that there's life after Soldier Field," Marlowe said. "It's fair to say that Chicagoans as a whole will be asked to foot the bill for something."

Gov. JB Pritzker has expressed caution about using taxpayer money for stadium projects.

If you're wondering why the Park District hasn't made upgrades to keep the Bears at Soldier Field, it's because they want very different kinds of renovations than the Park District – including a dome or retractable roof and much more seating, something that could cost billions of dollars.

The Bears did not immediately respond to a request for comment about the Park District's proposal and what this means for their pursuit of a new stadium.

In 2003, they purchased the former Arlington Park racetrack in Arlington Heights for $197 million, and have said they are willing to pay for construction of a new stadium there themselves, but are seeking $855 million in public funds for necessary supporting infrastructure – such as new roads, upgraded utilities, and more – along with legislation allowing them to negotiate their property tax bill with local governments.

The Bears also are in talks with officials in Indiana about a proposed stadium in Hammond. Last week, the Indiana House Ways and Means Committee approved legislation to establish a state sports authority to fund a new stadium for the Bears.

However, the Bears have not made a firm commitment to either the Indiana or Arlington Heights projects.

Pritzker has since called on Bears' ownership to be clear on whether they're still interested in staying in Illinois and to stop sending what he called mixed signals about their stadium plans.