New plans for the Chicago Bears stadium
The Chicago Bears have refocused their plans for a new stadium, now setting their sights on Arlington Heights, Illinois. The franchise, owner of a 326-acre plot of land in this locality, where the Arlington International Racecourse was previously located, has made a shift in its strategy.
This change comes after the team explored options in both Arlington Heights and the Chicago lakefront area, south of the current Soldier Field.
“In recent months, we have made significant progress with the leaders of Arlington Heights and look forward to continuing to work with state and local leaders to make a transformative economic development project for the region a reality,” the Bears said in a statement.
Chicago Bears Statement
The Bears acquired the land in Arlington Heights for $197.2 million in September 2021. Although they have not started construction, the project is expected to include a multi-million dollar stadium, restaurants, shops, and residential spaces.
The team began evaluating alternatives for a new stadium outside of Arlington Heights in the summer of 2023, due to a standstill in negotiations over property taxes.
Last month, the village of Arlington Heights approved a formal review of the Bears’ plan, valued at $5 billion.
Kevin Warren, Bears president and chief executive officer, indicated in April that the goal is to begin construction of the new stadium in 2025.
George McCaskey, Bears chairman, mentioned that private capital could be used as part of the financing for the stadium’s construction, but a decision has not yet been made regarding this.
“Yes, my goal remains to move dirt in 2025, which is important because there’s a lot of pre-construction work needed on these projects, whether it’s on the museum campus, Michael Reese, or downtown, to get everything ready, and we’re only a quarter of the way through the year,” Warren said at the NFL league annual meetings.
Kevin Warren, Chicago Bears president and CEO
