Arlington Heights offers Chicago Bears tax breaks to build stadium
CHICAGO – Suburban Arlington Heights is offering big tax breaks to the Chicago Bears to build a new stadium in the village.Village officials came up with a compromise over a tax property bill for land the Bears already own in Arlington Heights.The potential deal would give the Bears tax liabilities of about $6.3 for the first year and $3.6 million for the second year. The current tax bill for the former Arlington Park property is nearly $10 million.
'The proposal comes as the Bears announced last week they would commit $2 billion toward a new stadium on Chicago's lakefront. Officials and business leaders in Arlington Heights were initially surprised at the announcement from the Bears.The Bears have been in talks for a new stadium to replace Soldier Field since 2021 when they first bid on the purchase of the Arlington International Racecourse property. The Bears ultimately bought the site for $197 million in February of 2023.
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