(670 The Score) The Bears have reached an agreement with the Village of Arlington Heights and three local school districts over property taxes for the organization’s 326-acre parcel of land at Arlington Park, though the franchise reiterated that its focus remains on building a new stadium in the city of Chicago.
The Bears' agreement comes 21 months after they closed in February 2023 on the $197.2-million property at Arlington Park, which was previously occupied by Arlington International Racecourse. Terms of the agreement on property taxes weren’t disclosed.
“The Chicago Bears remain focused on investing over $2 billion to build a publicly owned enclosed stadium on Chicago’s lakefront while re-evaluating the feasibility of a development in Bronzeville," the Bears said in a statement Monday. "That being said, we remain significant landowners in Arlington Heights and establishing a framework for potential future development planning, financing and property tax certainty has been a priority since the land was purchased. We continue to have productive conversations with the village and school districts and are aligned on a framework should we choose to explore a potential development.”
Earlier in November, the Bears began exploring the prospect of the Michael Reese Hospital site in the city's Bronzeville neighborhood as a possible stadium location. The site had previously been ruled out due to feasibility concerns.
The Bears released renderings in April for a potential stadium project along the city of Chicago's lakefront on the property directly south of Soldier Field. The team pledged more than $2 billion in private funding as part of the plan for that construction, which would require at least $4.7 billion in total. However, the Bears’ attempts to secure taxpayer funding didn’t gain traction in the Illinois legislature.
Bears president/CEO Kevin Warren reiterated in October that the team hopes to break ground on construction along the lakefront property in 2025. It remains unclear how the Bears would gain $2 billion-plus in funding to make their vision come to fruition.
The Bears have played their home games at Soldier Field since 1971, operating under a lease through the Chicago Park District. That lease runs through 2033.
Chris Emma covers the Bears, Chicago’s sports scene and more for 670TheScore.com. Follow him on Twitter @CEmma670.