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* Press release…
Last fall, we released an open letter confirming the team had reached an agreement for the purpose of acquiring 326 acres of property in Arlington Heights to secure the potential of beginning a new and exciting chapter for the Bears, our fans, the Chicagoland community, and the State of Illinois. This week, we took another step toward realizing that vision by closing on the Arlington Park property. 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. There is still a tremendous amount of due diligence work to be done to determine if constructing an enclosed state-of-the-art stadium and multi-purpose entertainment district is feasible.
Should we proceed, the development of the Arlington Heights property would be one of the largest mega-projects in Midwest history. Possible construction of a stadium-anchored development is projected by analysts to create more than 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 across the region. The completed mega-project would create more than 9,750 long-term jobs, generate $1.4 billion in annual economic impact for Chicagoland and provide $601 million in annual labor income to workers across Chicagoland. The Village of Arlington Heights has hired its own expert consultant to review the economic projections, and we look forward to discussing the substantial benefits this project will provide.
If we elect to move forward after assessing the opportunity, the surrounding community will continue to be a foremost priority and an integral part of our planning. Over the past five months, we have met with local residents, small business owners, school districts, elected officials and other interested stakeholders to secure their critical input, and we will continue to have an open dialogue to ensure this potential multi-purpose development provides the greatest possible benefits to the region. The project would offer considerable commercial and residential real estate opportunities year-round, and serve as a regional hub for entertainment, shopping and community events that complement the established businesses and thriving community already in place. The overarching plan will work only if the Village of Arlington Heights, surrounding municipalities, Cook County, greater Chicagoland and the State of Illinois all receive significant economic benefits, and we are confident a mega-project like this can deliver.
The Bears will continue to work closely alongside the Village of Arlington Heights, surrounding municipalities and their residents to solicit extensive feedback on how we can best benefit local communities and Bears fans across Illinois. This planning will include a robust diversity, equity and inclusion program that prioritizes local hiring throughout every stage of the development.
We have publicly stated and repeat here again: If we construct a state-of-the-art stadium, we will not seek taxpayer funds locally or otherwise for the structure. If we proceed, however, this project would require assistance to ensure feasibility, including our securing property tax certainty and support for infrastructure commensurate with the public benefits the project will yield to the region. For the development to move forward, and for this effort to be financially feasible, a public-private partnership addressing predictable taxes and necessary infrastructure funding for public uses is essential. Public funds for infrastructure will provide regional improvements such as roads for better traffic flow and water drainage for residents throughout the area. This support, along with the team’s investment, will be crucial to ensuring the local and Illinois economies receive a dramatic, long-lasting influx of investment and new tax revenue of a magnitude never experienced before in the region.
While this closing marks a major development in the ongoing evaluation, there has been no decision that the development of the recently acquired property will occur. But today’s news is nonetheless an exciting update and positions our state and the Chicagoland region to be able to host world-class entertainment and sporting events on an unprecedented scale. We look forward to continuing this evaluation with the Village of Arlington Heights, surrounding governmental bodies and the General Assembly in the coming months, and conveying what we believe is necessary to transform the recently purchased, largely dormant Arlington Heights property into one of the most iconic mega-project entertainment and destination points in the world.
…Adding… Mayor Lightfoot…
NEWS: "Today’s news about the closure of the Bears' option in Arlington Heights has been anticipated for some time. Nonetheless, all of us die-hard Bears fans, @chicagosmayor included, know and believe that the Chicago Bears should remain in Chicago. pic.twitter.com/7Z7Rt6aN8Q
— Ryan Johnson (@Ryan_Johnson) February 15, 2023
…Adding… Rep. Mark Walker (D-Arlington Heights)…
“The Bears’ purchase of Arlington Park is a good deal for Arlington Heights and the Chicago Bears. Our job now is to ensure that any possible developments at the site are in the best interest of area residents, school districts, small businesses, and the Village of Arlington Heights.”
posted by Rich Miller
Wednesday, Feb 15, 23 @ 3:34 pm
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We want the school children to pay for this development, and then we will ask for hundreds of millions of State money for infrastructure..a $4billion private entity moving everyone else away from the trough
Comment by NotRich Wednesday, Feb 15, 23 @ 3:40 pm
“If we elect to move forward”
Their hedge on PILOT financing. While I remain in favor of some sort of 6B equivalent (if that’s what PILOT really is), they’ve really lost a lot of leverage in forcing that through Springfield by closing.
If I were AH, I might tell them to pound sand now. At the very least, no breaks for the schools and maybe partial breaks for the parks and libraries. I guess the village could forgo their share of property taxes thinking sales and amusement taxes will make up for it.
Either that or approval for PILOT is a done deal behind the scenes.
Comment by Save Ferris Wednesday, Feb 15, 23 @ 3:43 pm
Once again, I see zero upside for the state government subsidizing this move in any way, pitting municipality against municpality. As a Chicagoan, I also see zero upside in throwing money at the team to get them to stay at Soldier Field. I don’t live in Arlington Heights, though, so I don’t really get a vote on what they do for the multimillionaires that own the team–although you can probably guess my opinion.
Comment by Benjamin Wednesday, Feb 15, 23 @ 3:46 pm
I think I read previously that the Bears had an exclusivity clause in their deal with Churchill Downs and could not discuss any other stadium options until the Arlington Park deal closed — which just happened. It will be interesting to see if they now talk with the mayor about Soldier Field or if all of a sudden they announce they’re also looking at property in Northwest Indiana.
Comment by TNR Wednesday, Feb 15, 23 @ 3:46 pm
It is interesting how much transportation will impact the decision. I think both Arlington Heights and Chicago need to have substantial public transportation upgrades to win. The Metra to the racecourse was fun, but I can’t imagine what a Sunday ride to a Bears home game there would be like.
Comment by Three Dimensional Checkers Wednesday, Feb 15, 23 @ 3:49 pm
The timing in this press release is just amazing. A+ work by ownership.
Comment by ChicagoBars not ChicagoBears Wednesday, Feb 15, 23 @ 3:56 pm
===Either that or approval for PILOT is a done deal===
lol
No.
Comment by Rich Miller Wednesday, Feb 15, 23 @ 3:56 pm
Not one nickel. Not one.
The state can and should work with Arlington Heights and *ONLY* Arlington Heights to assist in infrastructure (roads/off-ramps, sewer/water up to the building, etc) and the Bears for all the reasons, yet again, I can list, easily, there’s ZERO reason the the Gillespie Bears Bailout Bill should pass, heck, that bill shouldn’t even exist, let alone have a sponsor…
So many words by the Bears, yet it was “Lucky Pierre” that says it best:
===(The Bears) have one of the worst leases if not the worst in terms of revenue for the smallest stadium in the NFL===
The Bears (and Lucky Pierre, their advocate) are in the want of maximizing revenues… there’s ZERO need for any incentive.
The Bears ain’t waking away from this site, they want Gillespie to help bailout the Bears… to maximize profits… while hurting Arlington Heights… for 40 years…
… on a building that will need major renovations in 20-25 years.
Not one nickel.
Comment by Oswego Willy Wednesday, Feb 15, 23 @ 3:59 pm
The arrogance that comes through in that press release is stunning.
Comment by Furtive Look Wednesday, Feb 15, 23 @ 4:01 pm
I read that as a sales pitch for helping the Bears to move …
Comment by RNUG Wednesday, Feb 15, 23 @ 4:01 pm
Lori is doing a great job wooing the Bears to stay put in Chicago.
Comment by Frumpy White Guy Wednesday, Feb 15, 23 @ 4:06 pm
===This planning will include a robust diversity, equity and inclusion program that prioritizes local hiring throughout every stage of the development.===
So which is it? Diversity or local hiring? Lol.
Comment by 47th Ward Wednesday, Feb 15, 23 @ 4:12 pm
===This planning will include a robust diversity, equity and inclusion program that prioritizes local hiring throughout every stage of the development.===
Bailout or not, the Bears will first use union labor, and second have diversity on site, as the NFL loves them some good PR.
What, the NFL will be overjoyed with “scab white labor” shutting out union workers and diversity?
There’s only leverage to the foolish that believe it or the ignorant who fall for it.
Comment by Oswego Willy Wednesday, Feb 15, 23 @ 4:15 pm
=== The Metra to the racecourse was fun, but I can’t imagine what a Sunday ride to a Bears home game there would be like.===
There’s already Metra service to Soldier Field on the Metra Electric.
Comment by StarLineChicago Wednesday, Feb 15, 23 @ 4:18 pm
“It’s not personal, it’s strictly business”.
Comment by The Magnificent Purple Walnut Wednesday, Feb 15, 23 @ 4:21 pm
“lol No.”
As was my guess. Pretty poor timing by the Bears not to have their property tax deal done before closing. But then again, this is the franchise that hires GMs who can’t fire coaches for a year and then allow GMs to make trades 9 months before canning them. Long term planning is not their strength.
Not sure what their strength actually is.
Comment by Save Ferris Wednesday, Feb 15, 23 @ 4:23 pm
While Lightfoot continues demonstrating her incompetence, Da Bears continue the hard sell for corporate giveaways for the rich.
https://www.brookings.edu/research/why-the-federal-government-should-stop-spending-billions-on-private-sports-stadiums/
Comment by thisjustinagain Wednesday, Feb 15, 23 @ 4:24 pm
Hurting Arlington Heights for 40 years?
How much tax revenue has the village received since the park closed in 2021?
Do you honestly believe the tax revenue generated by this massive multi billion dollar development would be less than what is currently coming in now from this vacant parcel?
It sure looks like the Bears were the only suitor here.
Are you aware of any other massive developments that privately fund the infrastructure required?
https://www.journal-topics.com/articles/with-bears-develoopment-arlington-heights-stands-to-make-millions/
Comment by Lucky Pierre Wednesday, Feb 15, 23 @ 4:25 pm
Two thoughts.
The second paragraph is a wonderful analysis of what might be possible in terms of jobs and revenues. But the figures appear in a vacuum that excludes current jobs counts, current wages, and current revenues.
For example, when they state, “The completed mega-project would create more than 9,750 long-term jobs,” my first thought is whether some (or all) of these long-term jobs already exist at the lake front stadium. Are the existing jobs being included in that figure to make it appear as if a lot of “new” jobs are being created? I would want to know how many of those jobs are actually being created as new jobs relative to the existing jobs. It appears as if the current jobs simply being ignored in this figure.
A serious analysis would consider how many current workers will be displaced by this choice to move the facilities, and how many workers will be unemployed as a result.
For those who cannot afford to work in Arlington Heights, what will the Bears do to insure their former workers are re-employed in comparable jobs?
As to the claims of economic impact in terms of revenues, one also needs to discuss the projected lost revenues in the area of the old stadium, and recognize that a sizeable portion of those lost revenues there are being shifted to another community. They are not new dollars - they are dollars being transferred from one community to another. One wins, and one loses.
Comment by H-W Wednesday, Feb 15, 23 @ 4:33 pm
===“It’s not personal, it’s strictly business”.===
I was just about to say that.
===There’s already Metra service to Soldier Field on the Metra Electric.===
From the south. The Roosevelt CTA stop is not adequate and driving seems really bad.
Comment by Three Dimensional Checkers Wednesday, Feb 15, 23 @ 4:34 pm
Whether or not the Bears ever move or not the State Arlington Heights Rolling Meadow IDOT and the tollway need to do something very soon about the conditions on Rt 53 I 90 and local roads. I go down 53 often it has to be the worst and unsafest road anywhere. They don’t even fill pot holes anymore
Comment by DuPage Saint Wednesday, Feb 15, 23 @ 4:35 pm
I’m indifferent on where the Bears play. But I do know that the taxpayers should not be asked to put their thumb on the scale to make playing in one municipality a preferred choice over another. The Bears decided on their own to acquire the property in AH. The people were not consulted. And the people should not be asked to make things easier for the very wealthy owners of this team.
Comment by Pundent Wednesday, Feb 15, 23 @ 4:39 pm
@Pundent and OW say it so well, so Pundent and OW +1.
Comment by JS Mill Wednesday, Feb 15, 23 @ 4:48 pm
(Hat tip to - JS Mill -… humbly)
Oh, - LP -, you lack all honesty. Your latest feeble attempt today was “civic pride”… and why… it’s a horrific bailout that is designed to last longer than any bricks or mortar of the building.
Do I need to continue to fact check you… again?
===Hurting Arlington Heights for 40 years?===
It’s not a “net zero”, that’s for sure, and frankly, - LP -, if it’s such a boon, why this need for a $5.7 Billion (with a B) corporation, they should make *their own* money back without any incentives or tax breaks.
Either it’s a huge windfall that doesn’t need the help, or it’s a huge losing proposition that won’t even break even with the tax breaks.
You’re a phony, and the term ===honestly believe===, you are the last commenter here that has his/her argument “fact based”.
===It sure looks like the Bears were the only suitor here.===
If that’s true, they shoulda paid below market value, and… with the savings of that purchase, use that equity to help with the NFL backed loan.
No one buys property as a favor to a muni, especially if the property is projected to be such a success you think it will be.
===Are you aware of any other massive developments that privately fund the infrastructure required?===
… and yet you ignore your own words…
Why are the Bears looking to move?
===(The Bears) have one of the worst leases if not the worst in terms of revenue for the smallest stadium in the NFL===
Not one nickel, if you honestly believe this is such a boon.
Comment by Oswego Willy Wednesday, Feb 15, 23 @ 5:03 pm
Timing this release so that it steals the news cycle from JB’s State of the State/budget address seems like a politically brilliant way to make the Governor of Illinois oh-so sympathetic to their scheme.
If they were an even semi-competent organization, someone would get the ax for this — but they’re the Bears, so…
¯\_ (ツ)_/¯
– MrJM
Comment by MisterJayEm Wednesday, Feb 15, 23 @ 5:14 pm
Pundent @4:39 makes a good point that highlights the infuriating arrogance underlying the Bears organizations proposed move. The Bears announce that they have closed on property for their project and that they graciously expect the public to fund only public infrastructure needs that will exist only because of their project.
How very nice of them, eh? Our project creates otherwise nonexistent needs, and that’s all we expect you to pay for. That’s like my neighbor buying an attack dog and telling me all I have to do is pay for the fence to keep it out of my yard.
And of course, as Pundent points out, the Bears do all this without consulting the people who will be most affected by their project and who will be asked to pay for the “privilege.” Arrogance and greed.
Don’t give ‘em a red cent.
Comment by Flapdoodle Wednesday, Feb 15, 23 @ 5:19 pm
== securing property tax certainty ==
Real easy way for the Bears to achieve that — stay at Soldier Field, where they pay no property taxes.
Comment by Roman Wednesday, Feb 15, 23 @ 5:21 pm
Has anyone thought about the morality of taxpayers knowingly subsidizing an activity that causes horrendous brain damage?
Comment by northsider (the original) Wednesday, Feb 15, 23 @ 5:30 pm
How is Lori Lightfoot a diehard Bears fan when she is from rural Ohio?
Comment by Early voter Wednesday, Feb 15, 23 @ 5:35 pm
Looking forward to all that “input” the Mayor of Arlington Heights promised his residents would have (particularly the home owners on Euclid Avenue).
Comment by lake county democrat Wednesday, Feb 15, 23 @ 6:04 pm
===How is Lori Lightfoot a diehard Bears fan===
She’s lived in Chicago since the 1980s. She has season tickets. She’s shelling out her own cash to watch that wretched team lose most Sundays. I think that qualifies as die hard fandom.
There are plenty of things to criticize her for, but loyalty as a Bears fan isn’t one of them.
Comment by 47th Ward Wednesday, Feb 15, 23 @ 6:32 pm
Obviously the Bears don’t have the courage of their convictions. If they were confident in being in Illinois why would they need a 40 year property tax freeze? Is Joe’s Local Diner going to get a 40 year property tax freeze? Everyone knows the answer. The Illinois State Constitution guarantees everyone equal protect under the law. This implies zero special privileges to any group. If this scam passes I hope taxpayers go to court to prevent this rip off.
Comment by Steve Wednesday, Feb 15, 23 @ 7:10 pm
===The completed mega-project would create more than…===
They forgot to elaborate on how much they anticipate earning in rent and other fees for use associated with their 326 acre development. Today the Chicago Bears stopped being an NFL franchise and became real estate tycoons.
===this project would require assistance to ensure feasibility, including our securing property tax certainty and support for infrastructure commensurate with the public benefits the project will yield to the region===
This “ensurance” already exists. It’s called bankruptcy court. If they want to spread that risk around, they can sell bonds or sell shares of the company and I’ll be happy to partake.
Comment by Candy Dogood Wednesday, Feb 15, 23 @ 7:37 pm
The bears economic development invokes taxpayers to pay more than them
Comment by Rabid Wednesday, Feb 15, 23 @ 7:46 pm
=If this scam passes I hope taxpayers go to court to prevent this rip off.=
Aren’t you a taxpayer? Courage of your convictions and all of that good stuff. Right?
Comment by JS Mill Wednesday, Feb 15, 23 @ 8:52 pm
I’m a proud Bears fan, and I sincerely hope they stay in Chicago. That’s one thing I like about the Bears, they play in their namesake city. I went to my first Bears game in November, and I can understand the reason to want a different stadium, but I wish the new stadium could be in Chicago, where the Bears belong.
Comment by Fivegreenleaves Wednesday, Feb 15, 23 @ 9:59 pm