Chicago is not quite out of the running.
The National Football League’s Chicago Bears franchise ownership is now focusing on a parcel of property it owns in Arlington Heights, Illinois in the stadium game apparently leaving Chicago behind. The Bears ownership put out a statement indicating that it is all over for Chicago for now. “Over the last few months, we have made significant progress with the leaders in Arlington Heights, and look forward to continuing to work with state and local leaders on making a transformative economic development project for the region a reality.” Arlington Heights politicians are now reviewing the Bears’ ownership’s $5 billion plan to build a stadium in the town of about 75,000 people.
Bears’ ownership had hoped to break ground for a state-of-the-art 21st century venue by now. In February, 2023, Bears’ ownership purchased the 326 acres of property in Arlington Heights for $197.2 million. It looked like the Bears’ ownership had a clear path to build a stadium-village in Arlington Heights until the town presented the group with a property tax bill. That bill seemed to be too high and Bears’ ownership decided to look elsewhere for land for the stadium. The property tax bill problem seems to have been rectified. Bears’ ownership then wanted to build a stadium in Chicago in the Soldier Field’s parking lot and surround the facility with stores, office space and housing. Bears’ ownership has met resistance to that notion. Too much of a barrier it seems. Where is the money backing the project? The McCaskey family, the owners of the football business, claimed they were willing to throw in about $2 billion to help finance the venture but the McCaskeys wanted at least $900 million in bonds from the Illinois Sports Facilities Authority. Illinois politicians are not impressed with the McCaskey family’s plans. The Bears’ stadium saga continues.
The Arington Heights Bears?
