The village settled a tax dispute with the NFL franchise.
Is Arlington Heights, Illinois back in the picture as the possible home for the National Football League’s Chicago Bears franchise? Arlington Heights Mayor Tom Hayes said his village of about 75,000 people and three local school districts reached a tentative deal with Bears’ ownership in a property tax dispute. The Bears’ ownership bought the Arlington Park racetrack property in the Chicago suburb in February 2023 for $197 million. Bears’ ownership was set to build a stadium-village in town but then the property tax bill came. Bears’ ownership was alarmed with the tab and decided Chicago is a better option. In April 2024, Bears’ ownership unveiled a plan to build a domed lakefront stadium and surround the structure with a residential and retail zone.
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 also said they needed public support. The McCaskeys claimed they would put up $2.025 billion and would get a $300 million loan from the NFL. The McCaskeys wanted at least $900 million in bonds from the Illinois Sports Facilities Authority. That funding would include extending bonds of the existing 2% hotel tax. That means people using hotels and motels would be paying for a football stadium that more than likely the hotel and motel users would never step foot in. The new stadium would be constructed in the parking lot just south of Soldier Field. The plan failed to impress Illinois Governor JB Pritzker dismissed it outright. Bears’ ownership is still looking for state money for the Chicago plan. There may be another part of Chicago where the McCaskeys could put a stadium. The McCaskeys kicked the tires at the former Michael Reese Hospital site in Bronzeville to see if it is feasible. No Bears’ stadium plan is feasible without public money.
Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191
Evan can be reached at evan_weiner@hotmail.com
