Bears Say They’re Eyeing A New Home In Chicago, A Shift In Focus From A Move To The Suburbs – News18

CHICAGO: The Chicago Bears are ready to offer greater than $2 billion in funding towards a publicly owned stadium within the metropolis, signaling a shift in focus away from constructing a brand new house within the suburbs.

“The future stadium of the Chicago Bears will bring a transformative opportunity to our region — boosting the economy, creating jobs, facilitating mega events and generating millions in tax revenue,” staff president Kevin Warren mentioned Monday in an announcement. “We look forward to sharing more information when our plans are finalized.”

The Bears are eyeing the south parking zone at Soldier Field, their house since 1971, as the positioning for an enclosed lakefront stadium. The new facility might host Super Bowls and Final Fours.

The Bears spent $197.2 million greater than a 12 months in the past to buy the positioning of the shuttered Arlington International Racecourse from Churchill Downs Inc. in suburban Arlington Heights. The staff envisioned constructing a stadium on the 326-acre tract of land some 30 miles northwest of Soldier Field, with eating places, retail and extra on the property — all for about $5 billion, with some taxpayer assist.

The Bears mentioned they might pay for the stadium in Arlington Heights, with taxpayer {dollars} protecting infrastructure prices reminiscent of roads and sewers. Those plans stalled, with the staff citing a property evaluation it mentioned was too excessive.

The Bears started listening to pitches from different suburbs and turned their consideration towards remaining within the metropolis. An ordinance in Chicago usually prohibits personal improvement alongside the lakefront. A nonprofit group sued and in 2016 defeated a plan by filmmaker George Lucas to construct a museum close to Soldier Field.

Mayor Brandon Johnson has made it clear he desires to maintain the staff within the metropolis. The Bears’ lease at Soldier Field runs by way of 2033.

“I have said all along that meaningful private investment and a strong emphasis on public benefit are my requirements for public-private partnerships in our city,” he mentioned. “The Chicago Bears plans are a welcome step in that direction and a testament to Chicago’s economic vitality. I look forward to subsequent talks with the Bears, state leadership and community stakeholders about how we can continue to responsibly support the aspirations of the team, its fans and all residents of the city of Chicago.”

Baseball’s Chicago White Sox are also in search of public funding to construct a stadium. They envision an open-air ballpark surrounded by eating places, companies and residences on a 62-acre parcel known as “The 78” that’s owned by improvement agency Related Midwest. It can be nearer to downtown than their present house at Guaranteed Rate Field.

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(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – Associated Press)