The Bears released renderings of the proposed project and a statement that was the most detailed yet on their proposal to buy Arlington International Racecourse. He said the stadium will be a “best-in-class indoor stadium, providing Chicagoland with a new home worthy of hosting global events like the Super Bowl, the College Football Playoff and the Final Four.” A rendering shows the Chicago Bears’ preliminary plans for the Arlington Park property, including a so-called Stadium District on the northwest side of the property next to Route 53 and Northwest Highway, along with mixed-use development on the rest of the footprint, like where it is now the indoor track. (Hart Howerton / Chicago Bears) The 326-acre development will also include restaurants, office space, a hotel, a gym, new parks and open spaces. The group estimated that construction of the proposed project would create 48,000 jobs, $9.4 billion in economic impact for Chicagoland, and $1.4 billion in annual economic impact. The team would not seek taxpayer help to build the stadium, but given the financial implications, would seek public funding for the rest of the project. “We remain in contract to purchase the property, but there are conditions that must be met before we are able to close,” the group wrote in the release. “If we close the property, it does not guarantee that we will develop it.” Images released Tuesday show a map indicating the stadium will be located along Route 53 and Metra commuter lines. A mixed-use district would be southeast of the stadium. Two other images show aerial views of the complex, which will include several buildings along with the stadium. The team has played at Soldier Field in Chicago for half a century and pays about $6.5 million a year in rent. Its lease runs through 2033, but the team could break the lease for $84 million starting in 2026. In July, Chicago Mayor Lori Lightfoot proposed options to build a dome over Soldier Field for 2 .2 billion dollars, without specifying how it would be paid. In September 2021, the Bears signed a preliminary agreement to purchase the Arlington site from track owner Churchill Downs Inc., which closed the track last year. “We remain in contract to purchase the property, but there are conditions that must be met if we are to close,” the Bears said, but did not elaborate on those conditions. “While we have a contract with the seller of Arlington Park, we will not discuss or explore other alternative stadium sites or other opportunities, including renovations to Soldier Field,” the team said. “If the team goes ahead with the purchase of the Arlington property, and if the Bears organization then chooses to move forward with the development of the property, the project will be one of the largest development projects in the history of the state of Illinois.” The group projected the construction would bring $3.9 billion in labor income to workers, with more than 9,750 long-term jobs and $601 million in annual worker income. In terms of tax revenue, the Bears estimated the deal would generate $16 million annually for Arlington Heights, $9.8 million for Cook County and $51.3 million for the state of Illinois. The team did not elaborate on how such screenings were made. Economists have challenged such “promotional” studies, noting that consumer spending on sports often simply substitutes for other types of entertainment spending. Various studies have concluded that new sports facilities have minimal impact on economic activity and employment, but have not addressed the impact of a multi-use district like what the Bears are proposing.
Afternoon briefing
Daily Top stories from Chicago Tribune editors, delivered to your inbox every afternoon. “We are taking serious steps to evaluate the opportunity presented to us,” the group said. “The Bears remain committed to Soldier Field and will honor the terms of its lease … there is a lot of work to be done before we close on the property and then whether to develop it. “We look forward to working with key partners and stakeholders throughout the Chicagoland community and the State of Illinois in the coming months.” The Bears did not issue an ultimatum that they would require taxpayer funding to complete the deal, but hinted that it might be necessary by repeatedly stressing that the deal is contingent on unspecified conditions being met. On Tuesday night, the Arlington Heights Village Board was to consider approving a proposal from real estate development consultant Hunden Strategic Partners Inc., of Chicago, to conduct a financial and market analysis of the redevelopment proposal. The board was also to consider a bid by Sam Schwartz Consulting LLC, with an office in Chicago, for a traffic and parking study. The Bears will hold a community meeting Thursday night at Hersey High School in Arlington Heights to talk about the plan. AD Quig of the Chicago Tribune contributed.
