Bears' lakefront stadium plan faces a bleak outlook as a key deadline looms in Illinois state legislature

(670 The Score) The Bears' hope to get approval in this legislative session to build a new state-of-the-art stadium along the lakefront has reached fourth down.

The Illinois state legislature is set to close Friday at 11:59 p.m., setting a deadline for the Bears and the city of Chicago as they seek approval for a proposed new stadium along the lakefront that's asking taxpayers for billions of dollars.

As of Friday morning, the plan faced a bleak outlook as it has struggled to gain traction in both the state house and senate, a source familiar with the process said. The Bears have pitched the project with a $4.7-billion price tag, though reports have suggested it would be more. Part of the proceedings in the state legislature involves laying out the precise cost of the project. Illinois taxpayers are being asked to come up with around half of the $4.7 billion that the Bears have cited as the price tag.

Illinois Gov. J.B. Pritzker has previously shared skepticism about the plan.

"I wonder whether it's a good deal for the taxpayers," Pritzker said in April, according to the Chicago Sun-Times. "It's early on ... It's very important to me that with all the state needs to accomplish that, you know, we think about what the priorities are."

The Illinois house presents the most daunting opposition for the proposal, the source said. The state senate has been more open to the plan. Both chambers must approve the plan before it can reach Pritzker's desk for a signature.

Illinois Speaker of the House Chris Welch told the Chicago Sun-Times in April that the plan would “fail and fail miserably,” which he relayed to Bears team president/CEO Kevin Warren during a meeting in Springfield.

The stadium itself would cost $3.2 billion, according to the Bears' presentation. The proposal to pay for the stadium includes more than $2 billion in private funding from the Bears and $300 million in loans from the NFL but would also require $900 million from the Illinois Sports Facilities Authority in the form of extending bonds of the existing 2% hotel tax. The project will also require about $1.5 billion in public money to fund infrastructure.

The stadium would be constructed on the property south of Soldier Field, which is currently occupied by a parking lot. The stadium would feature a translucent roof, similar to that in Minneapolis’ state-of-the-art U.S. Bank Stadium – a project that was led by Warren during his tenure as the Vikings’ chief operating officer – and has design similarities to the Raiders' Allegiant Stadium in Las Vegas. Manica Architecture, which designed Allegiant Stadium, would lead the stadium project in Chicago.

When the Bears and the city of Chicago unveiled their stadium proposal on April 23 in a ceremony at Soldier Field, Warren, Chicago mayor Brandon Johnson, Bears chairman George McCaskey and other team and city officials were among those on stage. Pritzker and state officials were notably absent.

The Bears presently own the 326-acre Arlington Park property in northwest suburban Arlington Heights, a $197.2-million purchase they closed on in early 2023. But costs on that site have extended beyond that initial price tag following demolition of the Arlington International Racecourse and continued upkeep of the property.

The Bears shifted their focus for a new stadium location back to the city’s lakefront early this year amid a dispute with three local school districts in Arlington Heights over property tax assessment.

Warren and the Bears have acknowledged that their hope for a new lakefront stadium would face significant hurdles if the plan isn't approved in this spring legislature. The team estimated an additional $150 million to $200 million in costs with each year of waiting.

"We don't think that's prudent," Warren said. "The time is now."

Chris Emma covers the Bears, Chicago’s sports scene and more for 670TheScore.com. Follow him on Twitter @CEmma670 .