Chicago Bears considering a new stadium location away from Arlington Heights |
The Chicago Bears have made a surprising announcement, indicating that they are exploring other potential locations for their new stadium, despite having already acquired land in Arlington Heights for $197.2 million.
They envisioned a comprehensive entertainment district that would include various amenities such as restaurants, offices, a hotel, and a fitness center. However, a property assessment revealed that the property taxes for the Arlington Heights site were significantly higher than anticipated, rendering it financially difficult for the Bears. As a result, the franchise has shifted its focus away from Arlington Heights. “It is our responsibility to listen to other municipalities in Chicagoland about potential locations that can deliver on this transformational opportunity for our fans, our club, and the State of Illinois,” the Bears said in a statement. “The stadium-based project remains broadly popular in Arlington Heights, Chicagoland, and the state. “However, the property’s original assessment at five times the 2021 tax value, and the recent settlement with Churchill Downs for 2022 being three times higher, fails to reflect the property is not operational and not commercially viable in its current state.”
