Dec 9, 2024, 11:28 AM
Dec 9, 2024, 11:28 AM

Bears could move to Arlington Heights as village board debates agreement

Highlights
  • The Arlington Heights village board is set to vote on a property tax deal with the Chicago Bears and local school districts.
  • The proposed agreement could provide substantial annual tax savings for the Bears, while granting time until 2027 to commit to building a new stadium.
  • The outcome of the vote could influence the Bears' decisions regarding their future home, as discussions about various stadium sites continue.
Story

In Chicago, on December 9, 2024, the Arlington Heights village board is set to vote on a significant property tax agreement that involves the Chicago Bears and local school districts. This deal is seen as a potential move towards the Bears' possible future home in Arlington Heights, although it does not guarantee that the team will proceed with building a new stadium there. Notably, the Bears have previously stated that their focus remains on constructing a new stadium in Chicago, which highlights the ongoing deliberations regarding their future venue. The proposed agreement outlines substantial tax savings for the Bears, amounting to approximately $5 million annually. It establishes a flat annual tax of about $3.6 million for the Arlington Heights location, a notable reduction from the nearly $9 million tax bill for the 2023 tax year. Furthermore, the deal stipulates a commitment from the Bears to finalize their commitment to building a new stadium in Arlington Heights by 2027, with the implications of tax increases being contingent upon whether this commitment is made or not. Earlier this year, the Bears had temporarily shelved the Arlington Heights plan in favor of a new stadium project situated along the Chicago lakefront. This project sought $900 million in public financing, which was met with opposition from Governor JB Pritzker who deemed the proposal a 'non-starter.' In light of these developments, the Bears have also expressed interest in another potential stadium site located at the former Michael Reese Hospital in Bronzeville, Chicago. This shift in focus underscores the complexities and competition among various proposals as the Bears seek a viable solution for their future stadium. Arlington Heights Village President Tom Hayes continues to advocate for the transformation of the former racetrack property into the Bears' new home, expressing optimism about the community's possibilities. He emphasizes the need for a beneficial arrangement that would support both the team and the local community’s interests. Mayor Brandon Johnson has similarly underlined the importance of keeping the Bears within Chicago while also fostering initiatives that lead to economic development opportunities. The impending board vote at 7 p.m. signifies a crucial juncture in these ongoing negotiations and the future trajectory of the Bears' stadium endeavors.

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