Chicago/ Real Estate & Development
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Published on December 23, 2023
Chicago Bears Continue Stadium Hunt, Weighing Arlington Heights and Chicago Locales Amid Tax and Public Sentiment HurdlesSource: Google Street View

The Chicago Bears' quest for a new stadium is playing out like a strategic gridiron match, as the team keeps its options open while navigating complex negotiations. Despite this year lacking a decisive breakthrough, conversation with Arlington Heights continues to inch forward, with recent discussions reportedly around a tentative memorandum of understanding, as detailed by The Chicago Tribune. This document, still under wraps, potentially outlines the contentious property taxes on the former Arlington International Racecourse site, snagged by the Bears back in February for a hefty $197 million.

Meanwhile, with their sights set not just on Arlington Heights but the entirety of Chicagoland, the Bears are doing their diligence, even considering a space much closer to their existing den at Soldier Field; an underused south parking lot has emerged as a contender, this comes on the heels of reports by CBS Chicago which suggest this move could be more a strategic play than a serious bid given that the same lot had fallen through as a locale for the Lucas Museum in previous years.

The possible new stadium at Arlington Heights is part of a grand vision, a $5 billion residential and entertainment complex, though the Bears are upfront about their need for public subsidies to cover infrastructure costs, including essentials like utilities and roads.

Tax tensions run high, Cook County's assessment of the Arlington site spiked yearly contributions from $3 million to $16 million, affecting local school revenues directly; an issue the Bears deemed a 'nonstarter' when they took down the grandstand this summer to lower the site's value, as the schools proposed maintaining the higher tax. The CBS report adds another layer of local resistance with "Friends of the Parks" staunchly opposing any development by the Bears on the lakefront parking lot, citing the need for the parkland to remain "open, clear and free" for public access, a sentiment akin to the groups that thwarted the Lucas Museum attempt.

With the lease at Soldier Field stretching into 2033, the Bears nonetheless have the theoretical option of exiting prematurely (as early as 2026) and pooling their play elsewhere. As Chicago and its suburbs await the next season's developments, Mayor Tom Hayes of Arlington Heights remains an optimistic cheerleader, signing off communications with the Bears' leadership with a hearty, “Go Bears!”

Chicago-Real Estate & Development