Last fall, in September 2022, the Bears released an open letter confirming that they had reached an agreement to acquire 326 acres of property in Arlington Heights “to secure the potential of beginning a new and exciting chapter for the Bears, our fans, the Chicagoland community, and the State of Illinois.” The Chicago Bears initially signed an agreement for the purpose of acquiring 326 acres of property in Arlington Heights in September 2021.
The organization released a second open letter Wednesday, February 15, 2023, announcing that it has closed on the Arlington Park Property, describing it as “another step toward realizing” the vision that was stated in the first open letter last fall.
The Bears stressed, however, that closing on the property does not necessarily mean that a new stadium will be built on the site.
“Finalizing the purchase does not guarantee the land will be developed, but it is an important next step in our ongoing evaluation of the opportunity,” the letter reads. “There is still a tremendous amount of due diligence work to be done to determine if constructing an enclosed state-of-the-art stadium and multi-purpose entertainment district is feasible.”
Other highlights from Wednesday’s letter include the following:
If the Bears proceed, the development of the Arlington Heights property would be one of the largest mega-projects in Midwest history. Possible construction of a stadium-anchored development is projected by analysts to create more than 48,000 jobs, generate $9.4 billion in economic impact for the Chicagoland economy and provide $3.9 billion in new labor income to workers across the region.
The Bears will continue to work closely with the Village of Arlington Heights, surrounding municipalities and their residents to solicit extensive feedback on how they can best benefit local communities and Bears fans across Illinois.
If a stadium is constructed, the Bears will not seek taxpayer funds for the structure. The project would, however, require assistance to ensure feasibility, including securing property tax certainty and support for infrastructure commensurate with the public benefits the project will yield to the region.
The Village of Arlington Heights also confirmed the news from the Chicago Bears …
The Village of Arlington Heights has been notified by the Chicago Bears Football Club (CBFC) that they have finalized the purchase of the 326-acre Arlington Park property in our community. To view their open letter to the public, please visit …
The Village of Arlington Heights wrote Wednesday, February 15, 2023 that the village is very excited about this unique opportunity, and appreciative that the CBFC has chosen to make such a major investment in our community. However, the village stated there is recognition of the obligation to ensure that any project proposed will be in the best interests of our residents before any approvals are granted. Over the coming months and years, we look forward to working with the CBFC, our residents, and all other stakeholders in an open and transparent manner, while we work to explore the potential opportunities this development could bring to our region. Our goal is to work together to create a new regional destination befitting of the great legacy of the property.
While the CBFC’s purchase of this property is a major milestone, it’s important to remember that the Village of Arlington Heights and involved entities are still in early stages of discussions about what will happen with this property. The next phase of this project will be to analyze the specifics of what they will propose for the land. As previously stated, even though the CBFC have now purchased the property, this does not necessarily mean that their proposed project will ultimately move forward. The Village and the CBFC have pledged to cooperate in good faith with one another, and with all stakeholders, to explore the development of the site.
The Village will continue to update the Arlington Park Redevelopment page at www.vah.com/ArlingtonPark with meeting information, related documents, presentations, and FAQs. As with all projects, once formal plans are received, public meetings will take place and community member input will be encouraged. The Village always encourages residents to reach out with any questions by emailing [email protected]
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