Chicago Bears, Arlington Heights reach tentative deal over property taxes

ARLINGTON HEIGHTS, Ill. (CBS) — Northwest suburban Arlington Heights is back in the headlines as the possible future home of the Bears.
Arlington Heights Mayor Tom Hayes told CBS News Chicago that the village and three school districts reached a tentative deal with the team over property taxes
“I am encouraged about the significant progress we have made in recent weeks,” Hayes wrote.
The new property tax agreement does not mean the Bears will build their new stadium in Arlington Heights after all, and the team says it is still focusing on a new stadium in the city of Chicago. But it does reignite the conversation.
“I this this is an exciting next step,” said Illinois state Rep. Mary Beth Canty (D-Arlington Heights). “It’s not the last step by any stretch, but I am pleased to see this move forward.”
The prospect of the Bears moving to the former Arlington International Racecourse property in Arlington Heights dates back to 2021, when the team first bid on the property. The Bears ultimately bought the site for $197 million in February of 2023. Demolition of the grandstand and other structures on the site was completed in October of last year.
For some time, it seemed as if a new Bears stadium in Arlington Heights was all but a done deal. When he first signed on in January 2023, Bears President and Chief Executive Officer Kevin Warren said the Bears’ sole focus for a new stadium was in Arlington Heights.
But earlier this year, the team put the Arlington Heights plan on the back burner in favor of building their new stadium along the Chicago lakefront.
In April, the Bears announced a $4.7 billion plan for a new domed lakefront stadium complex, including added green space and other amenities on the Museum Campus and their current home at Soldier Field just to the north of the proposed new stadium.
The plan called for $900 million in public financing in upfront costs and another $1.5 billion in taxpayer funds for infrastructure improvements around the stadium.
While Mayor Brandon Johnson came out in favor of the proposal, Illinois Gov. JB Pritzker in May called the Bears’ proposal a “nonstarter.”
This month, the Bears suggested they were considering building on yet another site—the former Michael Reese Hospital site in Bronzeville.
Before the lakefront plan was announced, but after the Bears said they would spend $2 billion to stay in the city, the group Friends of the Parks suggested that the Bears should build at the Michael Reese site. The group is the same one that helped stop director George Lucas from building a museum along the lake back in 2016.
In 2021, the City Council signed off on a $3.8 billion plan to redevelop the Michael Reese site with 6,800 new homes, as well as a mix of offices, shops, and research facilities.
Whatever the choice ends up being, Canty agreed that taxpayers subsidizing the stadium is likely a no-go.
“I don’t think that there is any more interest in the state funding a development projet—whether it’s in Arlington Heights or in the city of Chicago,” she said.
After the Bears bought the Arlington Heights site for just under $200 million, the valuation of Arlington Park skyrocketed—as did the property tax bill. Until now, the Bears had been unable to come to an agreement with the school districts that depend on property taxes.
“I don’t view Arlington Heights as leverage,” said Marc Ganis, president of SportsCorp Ltd. “I view it as a legitimate option.”
Ganis has been involved in nearly two dozen sports facility projects. He said there is broader significance in this deal with Arlington Heights—especially since a location has not been finalized in Chicago.
“You have to get people to start saying yes to each other,” Gannis said, “and when you start saying yes the first time, the second time is easier, and the third time is even easier.”
Mayor Hayes released this statement from the Bears:
 The village and school districts released this statement:
The Bears have been playing at Soldier Field since 1971. Before that, they shared Wrigley Field with the Cubs.
Massive renovations told Soldier Field were completed in 2003 at a cost of over $600 million. Even with the upgrade, Soldier Field still has a capacity of only 61,500, the smallest in the NFL. There are 13 stadiums that hold more than 70,000.
Mayor Hayes declined to say what the property tax bill would be for the old Arlington International Racecourse property. Meanwhile, the deal still needs final approval, which could happen as soon as next month.