The Chicago Bears announced Wednesday they have officially closed on the purchase of Arlington Park as they work toward a potential new stadium that would see them leaving downtown Chicago for the suburbs in a major move.
they have officially closed on the purchase of Arlington Park as they work toward a potential new stadium that would see them leaving downtown Chicago for the suburbs in a major move.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.
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.
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.
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.
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Closing time: Chicago Bears finalize $197.2 million purchase of Arlington ParkThere's a new neighbor at 2200 W. Euclid Ave. in Arlington Heights: the Chicago Bears Football Club. The organization announced Wednesday it has closed on its $197.2 million purchase of the shuttered 326-acre Arlington Park property -- a milestone in the charter NFL franchise's long-sought city-to-suburbs relocation.
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Chicago Bears finalize deal to purchase Arlington Park — what this meansBREAKING: The Chicago Bears announced Wednesday afternoon they have officially purchased the Arlington Park property in Arlington Heights.
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Bears Move Closer to Leaving Soldier Field with Purchase of Arlington Heights LandThe Chicago Bears are on the verge of leaving its home of 51 years announcing today they have finalized their purchase of the former Arlington Park racetrack.
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