Developers Offer to Buy the Bears' Arlington Park Land: What the $10 Billion Michael Reese Pitch Means

Author’s note: I gathered the information in this post from public reporting, government documents and public records. It reflects what was known as of November 12, 2026. Sources are linked at the bottom. If you spot an error or have a tip, please let me know. — Joe Bjorklund

Bottom line (as of November 12, 2026): A Chicago developer group said on November 12 that it would buy the Bears’ Arlington Heights property if that land is what keeps the team from considering a Chicago stadium. The offer came with a revised $10 billion plan for a publicly owned, roughly 75,000-seat domed stadium at the former Michael Reese Hospital site. The Bears declined to comment, no price was disclosed, and nothing has been approved. The Arlington Park site is still owned by the Bears, and no Illinois stadium bill has been filed. See the status tracker for the latest.

What was announced on November 12?

Capri Investment Group, led by founder Quintin E. Primo III, and GRIT Chicago unveiled a revised “Bronzeville Lakefront” plan at a news conference at Olivet Baptist Church, FOX 32 Chicago reported. GRIT Chicago is a group of developers and investors led by Farpoint Development that bought the former Michael Reese Hospital site, according to the Chicago Sun-Times.

The plan covers about 100 acres on Chicago’s Near South Side. It combines the 48.6-acre former Michael Reese site, the neighboring Prairie Shores apartments and air rights over the McCormick Place Marshaling Yard, according to the Sun-Times and FOX 32.

The centerpiece is a domed stadium of roughly 75,000 seats. The developers say it would be publicly owned, modeled on Allegiant Stadium in Las Vegas, and could also host other sports and concerts. The Sun-Times reported that the developers proposed a version of this plan in March 2025 at an estimated $3.2 billion.

What did the developers say about Arlington Park?

Primo said his team and global investors are “prepared to buy the Arlington Heights site and eliminate this conflict” if the Bears’ ownership of that land is the obstacle to a Chicago stadium, CBS News Chicago reported.

No purchase price was disclosed, Patch reported. There is no public indication that the Bears want to sell. The team bought the former Arlington International Racecourse property in February 2023 and has not started construction there.

A sale would require the Bears to agree to it. Any later redevelopment of the land by another owner would still go through the Village of Arlington Heights’ zoning and approval process. Nothing in the November 12 announcement changes the site’s ownership or zoning.

How did the Bears respond?

A Bears spokesperson declined to comment on the new plan, the Sun-Times reported. The developers declined to say whether the team had seen the updated designs.

The Bears have previously rejected the Michael Reese site. The team said the 48.6-acre parcel was too narrow and that commuter rail tracks next to it created engineering and safety problems, according to CBS News Chicago and the Sun-Times. The developers now say the stadium would need 30 to 40 acres and would not encroach on active rail operations.

The team’s most recent public position is its November 6 statement. In it, the Bears said they are working with Illinois leaders on possible legislation for a stadium in Arlington Heights or Chicago, while finishing due diligence on two Wolf Lake-area sites in Hammond, Indiana.

How would the stadium be paid for?

The developers listed possible sources rather than a finished financing plan. According to the Sun-Times and FOX 32, these include private capital, stadium naming rights, personal seat licenses, NFL stadium financing, a Bears lease payment, refinanced Illinois Sports Facilities Authority bonds, tax increment financing and state infrastructure money.

The developers said they signed a memorandum of understanding with a major capital provider but did not name it, the Sun-Times reported. They project about $135 million a year in tax revenue and 60,000 construction-related jobs. Those are the developers’ own estimates and have not been independently reviewed.

The Sun-Times reported that GRIT must submit an updated infrastructure plan to the City of Chicago by December 14. Ald. Lamont Robinson (4th) supports the project. The McCormick Place authority said it has made no commitments.

Is this the only Chicago pitch?

No. Related Midwest has separately pitched a domed stadium on the roughly 200-acre former U.S. Steel South Works site near 87th Street and DuSable Lake Shore Drive, ABC7 Chicago reported on November 7. Related Midwest President Curt Bailey said the proposal had been shown to both the Bears and lawmakers. Chicago Mayor Brandon Johnson said the city’s focus is keeping the team within city limits.

That leaves at least four sites in public discussion: the Bears-owned Arlington Park land, two Hammond sites, and developer-proposed Chicago sites at South Works and Michael Reese. Only the Hammond sites and Arlington Park are ones the team itself has named.

Why the timing matters for Arlington Heights

The announcement came five days before Illinois lawmakers return to Springfield for the fall veto session, which runs November 17-19 and December 1-3, 2026. State Sen. Bill Cunningham has described the Senate draft as “franchise neutral and location neutral,” ABC7 Chicago reported on November 9. Gov. JB Pritzker has said pending legislation would let the Bears choose where in Illinois to build, according to ABC7.

In practice, that means a state law could apply to Arlington Park or to a Chicago site. The Chicago pitches compete with Arlington Heights for the team’s choice, not for the legislation itself. As of November 12, no bill has been filed, and no Illinois or village body has approved a stadium anywhere.

Frequently asked questions

Did someone offer to buy Arlington Park from the Bears?

Yes, conditionally. On November 12, 2026, Capri Investment Group’s founder said his group would buy the Bears’ Arlington Heights property if that land is what keeps the team from a Chicago stadium. No price was disclosed, and the Bears declined to comment.

Are the Bears selling the Arlington Park site?

There is no public sign of that as of November 12, 2026. The Bears still own the site and say they are working with Illinois leaders on legislation for Arlington Heights or Chicago while also studying two Hammond, Indiana, sites.

Is the Michael Reese stadium approved?

No. It is a developer proposal. The Bears have not endorsed it, no Illinois stadium bill has been filed, and the City of Chicago has not approved it.

Developers Offer to Buy the Bears’ Arlington Park Land: What the $10 Billion Michael Reese Pitch Means