ARLINGTON HEIGHTS, Sick. — The Chicago Bears on Wednesday bought the property that they’ve been sizing up for a recent enclosed stadium in suburban Arlington Heights.
The Bears announced that they paid $197.2 million for the 326-acre plot.
The team cautioned, nevertheless, that the acquisition doesn’t mean plans for a recent stadium and an entertainment district will come to fruition.
“There remains to be an amazing amount of due diligence work to be done to find out if constructing an enclosed state-of-the-art stadium and multi-purpose entertainment district is possible,” the Bears said in an announcement.
Soldier Field on Chicago’s lakefront has been the Bears’ home since 1971. The team played at Wrigley Field from 1921 to 1970, and if a recent stadium is constructed, the franchise would have its name on the mortgage for the primary time since arriving in Chicago.
Economic analysts have said constructing a Bears entertainment district would create greater than 48,000 jobs and generate $9.4 billion for the local economy.
“The Bears will proceed to work closely alongside the Village of Arlington Heights, surrounding municipalities and their residents to solicit extensive feedback on how we will best profit local communities and Bears fans across Illinois,” the statement said. “This planning will include a strong diversity, equity and inclusion program that prioritizes local hiring throughout every stage of the event.”
The Bears envision restaurants, retail and more on the location of the shuttered Arlington International Racecourse some 30 miles northwest of Soldier Field — all for about $5 billion, with some taxpayer help.
The Bears plan to pay for his or her stadium, but want taxpayer dollars to cover infrastructure costs corresponding to roads and sewers.
Town of Chicago proposed last summer enclosing Soldier Field and increasing its capability from a league-low 61,500. However the Bears have insisted the one possibilities they were considering were for the Arlington Heights site.
It’ll be as much as recent president and CEO Kevin Warren to assist the Bears’ vision for a recent home change into a reality. He was hired last month after spending three years as commissioner of the Big Ten.
Warren, who’s replacing the retiring Ted Phillips, worked within the NFL for greater than twenty years. He was a part of Minnesota’s front office from 2005-19, ascending to chief operating officer in 2015, and played a giant role within the Vikings’ construction of U.S. Bank Stadium.
The Bears see that stadium, which opened in 2016, as a model for his or her potential recent home, with its translucent roof and large glass panels letting in enough light and air to make fans feel as in the event that they’re outdoors.