Old Debt At Solder Field Casts Shadow On Bears’ Stadium Efforts

Illinois’ governor has a message for the Chicago Bears: Old business comes before new business.

The Bears’ plan to begin work on a stadium in Chicago’s northwest suburbs before the end of 2025 will require them to first finish paying off the Soldier Field renovation from 2003, according to JB Pritzker.

“We need the Bears to to pay off what’s owed on the existing stadium,’’ Pritzker told Crain’s Chicago Business. “That’s going to be a really important feature of whatever happens going forward, and if they want a PILOT bill, or some other help, we’re going to make that a prerequisite for something like that happening.”

The Bears have pledged $2.7 billion from the team and the NFL in building a state-of-the-art domed stadium, with an eye on hosting the Super Bowl as early as 2031, on land they own in Arlington Heights.

But team president Kevin Warren said in a recent letter to fans the franchise is not able “to proceed forward” without state legislation being approved this fall.

Team ownership is attempting to lock in assurances on future taxes through what the team calls a “mega project bill.” It would allow payment in lieu of taxes — a tool known as PILOT — to freeze property tax breaks and negotiate an annual payment in lieu of their regular rate. The team is also seeking public funding to pay for infrastructure improvements to the 326-acre site, which formerly held the Arlington Park horse track.

With the Bears seeing to upgrade what is now the NFL’s oldest stadium, Soldier Field received improvements in 2002-03 at a cost of $632 million. Crain’s writes that the Illinois Sports Facility Authority still owes $534.4 million in principal and interest from the project.

Bonds to fund the renovation were tied to both hotel taxes and a $5 million annual payment that the state and city of Chicago provide. But a portion of Chicago’s share of tax revenue is used to cover the difference, with shortfalls expected to increase over the next decade as the debt was backloaded.

The Bears extended the Soldier Field lease with the Chicago Parks District through 2033 after the renovation. But there is an early-exit clause that allows them to leave sooner. Warren has said construction will take three years, with the ’29 season as the goal for a move.

While the Bears explored stadium options within Chicago, most notably on a site adjacent to Soldier Field, Warren recently told fans the team is focused entirely on building in Arlington Heights.

Pritzker has been a consistently strong opponent of public funding for sports stadiums, including the Bears, but appears to be somewhat softening on a public-private partnership. He says the state will consider assistance to infrastructure improvements under certain conditions.

While Pritzker’s preference is for the Bears to remain in Chicago, he doesn’t see the location of a stadium a major factor in funding decisions.

“I have said directly to the Bears in the past, I want them to stay in the city of Chicago,” Pritzker said. “That doesn’t mean they’re going to. They’re a private business. They can go wherever they would like to go. But I would like them to stay in the city of Chicago, partly because I’m a Bears fan, and I would like them to be somewhere nearby for Chicago fans who live in Chicago.”

While the Bears are lobbying legislators, Pritzker said he has not had recent conversations with the team.

Illinois Rep. Kam Buckner said he and “many” others in the legislature see a plan to resolve the old debt as central to their support on a measure relating to Arlington Heights.

While the Bears are the primary tenant at Soldier Field, the lakefront stadium is regularly used for concerts and other events. The Bears plan to make a new domed stadium viable for major events year-round, which could leave Soldier Field largely sitting empty.

“Leaving the city high and dry without having a way to address that debt is the wrong thing to do,” Buckner told Crain’s. “They are now asking for the state to weigh in and to affirmatively do things to make it easier for them to leave. If that is their request, then there needs to be a deeper conversation about what you (do about) debt they’re leaving behind in their wake.”