Bears Close on Arlington Heights Deal

By George Reagan, The Chicago Times

February 16, 2023

CHICAGO – The Chicago Bears announced Wednesday in an open letter that the team has closed on the Arlington Park Property.

The Bears warn fans that the closing on the property doesn’t seal the deal on a new stadium being built on the former horse race track.

“Finalizing the purchase does not guarantee the land will be developed, but it is an important next step in our ongoing evaluation of the opportunity.” Bears management said in an open letter.

The potential Bears “project” on the Arlington Heights property could produce 48,000 jobs, generate $9.4 billion in economic impact for the Chicagoland economy, and provide $3.9 billion in new labor income to workers in Illinois.

As of now, the Bears have said they will not will not seek taxpayer funds to construct a new stadium.  However, the construction of a new stadium would require assistance to ensure feasibility, including securing property tax certainty, and support for infrastructure that will benefit the community and region.