Are Chicago Bears moving to Arlington Heights?

Are Chicago Bears moving to Arlington Heights?

In fact, they recently announced they are no longer looking exclusively at Arlington Heights as their new home should they leave Soldier Field. The Bears have since been courted by several suburbs including Naperville and Waukegan, to build a new stadium.

Will the Bears moving to Arlington Heights increase property value?

The Chicago Bears football team’s proposed move to Arlington Heights may see property values in the suburban town grow significantly. Although they have not finalized a deal, the Bears organization entered a purchase agreement to buy the recently closed Arlington International Racecourse property.

Where will the Bears new stadium be?

Chicago Bears Open Letter Regarding Arlington Park. In September 2021, the Chicago Bears signed 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 there.

Will Chicago get another NFL team?

Mayor Lori Lightfoot has hinted at the possibility of trying to bring a second team to the city – as the Bears’ move to Arlington Heights seems more likely than ever. But as CBS 2’s Jackie Kostek reported Wednesday, experts think such an idea likely is not realistic.

Why are Bears not moving to Arlington Heights?

Arlington Heights. The Bears thought they would be paying property taxes of $2.8 million per year, but a recent assessment of the property could raise that tax bill to $16.2 million per year, something the Bears aren’t on board with.

Will Bears stay in Chicago?

Despite no shortage of suburban suitors, the Chicago Bears could ultimately stay in the city — and mayor Brandon Johnson is newly optimistic they’ll do just that.

Why do the Bears want a new stadium?

Soldier Field is the smallest stadium in the NFL, it’s owned by the city of Chicago, and the area around the stadium doesn’t exactly scream immersive fan experience. Hence, the McCaskey family wants to cement their legacy with this massive undertaking.

Why would Bears move to Arlington?

In Arlington Heights, the team has ample land to build around a stadium like other NFL teams have to create a lucrative cash cow. While the location of Soldier Field is exquisite, providing breathtaking views of the city, Grant Park and the lake, it’s ironically painful to travel to.

Do the Bears own the land in Arlington Heights?

In September 2021, the Bears signed a purchase agreement for the Arlington International Racecourse property in suburban Arlington Heights, Ill. The 326-acre property was bought for $197.2 million. The Bears have played at Soldier Field since 1971.

Who has the oldest NFL stadium?

Soldier Field in Chicago, home of the Chicago Bears is the oldest stadium in the league having opened in 1924.

Who is paying for new Bears stadium?

The Bears plan to pay for their stadium, but want taxpayer dollars to cover infrastructure costs such as roads and sewers. The city of Chicago proposed last summer enclosing Soldier Field and increasing its capacity from a league-low 61,500.

Will the White Sox get a new stadium?

CHICAGO — The White Sox have begun exploring stadium options with the team’s lease at Guaranteed Rate Field expiring after the 2029 season, according to a report in Crain’s Chicago Business. The process is in its very early stages, with the team doing its due diligence with the lease expiration now on the horizon.

Could the Jaguars move to St Louis?

After the NFL owners meetings in Houston on Tuesday, Jaguars owner Shad Khan told the St. Louis Post-Dispatch and ESPN that he had no interest in moving the team to St. Louis at any point in the future.

Can Chicago support two football teams?

Chicago has the capacity to hold two NFL teams. The city set itself up to welcome a new team, if the Bears leave. Even if the city doesn’t attract another NFL team to rent out Soldier Field, they likely will compete with the Bears for business.

What cities have two NFL teams?

Technically, New York (Giants, Jets) and Los Angeles (Rams and Chargers) each have two NFL teams.

How much property value does Arlington Heights have for the Bears?

The previous assessed value of the site was roughly $33 million, but as part of the triennial reassessment, Assessor Fritz Kaegi’s office placed its value at $197 million. That increase would have hiked the property tax bill proportionally, prompting a nearly sixfold spike.

How much did the Bears pay for the Arlington Heights property?

ARLINGTON HEIGHTS, Ill. — The Chicago Bears on Wednesday bought the property that they’ve been sizing up for a new enclosed stadium in suburban Arlington Heights. The Bears announced that they paid $197.2 million for the 326-acre plot.

Who is paying for new Bears stadium Arlington Heights?

The Bears have said from the start of the process that they will fully fund the construction of the stadium, which is expected to cost between $2 and $3 billion. However, the team has said multiple times it will need help with the development of the other areas.

How much revenue do the Bears generate for Chicago?

The revenue of the Chicago Bears, a franchise of the National Football League, followed an increasing trend from 2001 to 2022. In 2022, the revenue of the Chicago Bears was 556 million U.S. dollars.