The plan, dubbed Bronzeville Lakefront, nearly doubles the size of an earlier proposal for the site. It is led by Farpoint Development and GRIT Chicago, now joined by Capri Investment Group founder Quintin Primo. The developers are racing a Dec. 14 city deadline to submit an updated infrastructure plan for the property.

The Bears previously rejected the Michael Reese site, calling it too narrow and citing safety concerns because a stadium would have to be built over an active rail line. But the development team is betting that a larger, more comprehensive vision — and a willingness to buy the team's Arlington Heights property — could change the calculus.

In a news release, the partners said they would be willing to purchase the Bears' Arlington Heights land if "existing investment there is an obstacle to considering a Chicago location." A spokesperson for the development team declined to say whether 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 glassy stadium surrounded by high-rise and mid-rise buildings, a sprawling public park, an event stage and a youth sports complex. The stadium would host the Bears as well as other sporting events and concerts.

"Our proposal has been designed to address the Bears' needs while creating broader benefits for Chicago," Primo said in the release. "We believe Bronzeville Lakefront offers the team a compelling stadium and development opportunity, and we are prepared to help resolve the issues that have kept the Bears from seriously considering this location. Most importantly, we believe it can deliver significant long-term value for Illinois taxpayers."

The project would extend beyond the 48.6-acre hospital site to include the nearby Prairie Shores apartment complex, a five-building property along King Drive between 26th and 31st streets owned by Golub & Co. Plans call for demolishing up to 1,000 units at Prairie Shores in the first phase and building about 1,500 apartments, with 1.5 replacement units for every existing unit removed.

Fourth Ward Ald. Lamont Robinson, whose ward includes the site, said he would insist that new housing be built before any demolition occurs.

"I want to be very clear that before you can remove, tear down Prairie Shores, you have to put the units up first," Robinson said. "You need to have 1,000 units up before you can take one unit down or have one family displaced. You have to have someone that is stewarding this. And the commitment is, before you can bring any housing down, you have to have the new property up. That is a commitment that this developer has made."

The developers are also proposing a community benefits agreement that would give priority to affected households for new housing in the district or nearby, five years of rent protections, additional assistance for longer-term residents, and oversight by a resident committee and an independent monitor.

"We recognize that redevelopment on this scale raises important questions for the people who already call Prairie Shores home," said Zeb McLaurin, founder and CEO of McLaurin Development Partners and a GRIT member. "Our responsibility is to work with residents to develop a housing program that protects their interests and gives them a meaningful role in shaping what comes next."

In total, more than 5,000 homes are expected to be built on-site and nearby, including affordable, senior and student housing. The plan identifies Lake Meadows as a potential housing site and cites "early discussions" with Illinois Tech about on-campus housing. It also proposes air rights over the McCormick Place Marshaling Yard and a 300,000-square-foot expansion of McCormick Place's convention space.

The Metropolitan Pier and Exposition Authority, which owns McCormick Place, said it supports efforts to boost the city's economy but has made no commitments.

"The proposed Bronzeville project may offer interesting opportunities for Chicago, but it is in its early stages," an MPEA spokesperson said in a statement. "At this time, the Authority has not made any commitments related to the project."

The developers estimate the mix of housing, hotels, retail and commercial space could generate about $135 million in annual tax revenue and $14 billion in regional economic activity during construction, along with roughly 60,000 construction-related jobs.

The proposal is not the first attempt to lure the Bears to the South Side. In March 2025, Farpoint principal Scott Goodman went public with a $3.2 billion stadium plan for the site, though he acknowledged at the time that he had not met with the team and had not finalized financing for the dome or the $600 million in state money needed to prepare the land. The Bears' preferred lakefront stadium proposal on the Museum Campus, unveiled in 2024, stalled in Springfield and could face legal challenges under the city's lakefront protection ordinance.

Robinson said he remains focused on developing the site regardless of the Bears' interest.

"As the alderman of the 4th Ward, I have to develop this site. I cannot leave this site dormant for another 20 years," he said. "We need more housing, and we need to put this back on the rolls for taxes. The city needs resources and we need housing. As the Bears have stated, they are still looking at sites, and why would we not put everything on the table and have the Bears look at it?"

If the Bears decline, Robinson said the plan could attract other teams, including the White Sox or the Stars. "There's a lot of talk about other stadiums shifting. We'd be open to having those conversations," he said.

The developers envision a publicly owned stadium similar to Allegiant Stadium in Las Vegas, home of the Raiders, which was partially funded through a hotel room tax. They said the Bears could contribute through naming rights, personal seat licenses, NFL financing programs and Illinois Sports Facilities Authority bonds, with additional support from municipal, state and federal dollars, tax increment financing, sales tax-backed bonds and transportation funding.

The team said it recently signed a memorandum of understanding with "a major capital provider."

"The difference between a development vision and a development that gets built is the ability to bring together the land, capital, technical expertise and partnerships needed to execute it," Primo said. "We've assembled an experienced team and developed a comprehensive plan that connects the stadium opportunity to housing, infrastructure and commercial investment."

The announcement comes days before state lawmakers in Springfield are set to consider financing tools that could make it easier for the Bears to stay in Illinois. The Michael Reese site, once purchased by the city for an Olympic Village that was never built after the 2016 Games went to Rio de Janeiro, has sat largely dormant for years.