The Chicago Bears embarked on a new era Wednesday with the purchase of a site in Arlington Heights where the team hopes to build a new enclosed stadium with a massive entertainment and residential development.
Despite the sale, the organization maintains the stadium and development are still big “ifs,” dependent on the team getting certainty on property tax limits and public subsidies to help build infrastructure for the project. But the team issued an open letter calling the purchase “an important next step” to see if the plan is feasible.
By shelling out $197 million for the 326-acre Arlington International Racecourse site, team officials plan to leave behind Chicago’s Soldier Field in favor of owning their own stadium where they could also hold marquee events like the Super Bowl or NCAA basketball championships.
