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If the Bears announce they are building a stadium in Arlington Heights, developers will flock there and the area will be built up with hotels, restaurants, bars before the stadium is even done.
jooo83
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I could be completely wrong, but I vaguely remember reading somewhere a while back that the area in and around Soldier Field was 97 acres. I think the Arlington Park site has something like 300 acres.
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And 2 i55/355 entrances within a few blocks of the property, Euclid and NW. Train station on stadium side of the tracks it borders and it's 326 acres. May never happen but the location and property itself is about as good as it gets in a well developed area.
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Toast88
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It's basically the perfect spot. If you were starting the planning process for building a stadium in an area that wasn't in the middle of nowhere, you couldn't really ask for a better starting point.
As far as the timing issue, I mean, anything is negotiable. And I'm not an architect or city planner. But SoFi Stadium in LA, which is about as state-of-the-art as you can get, took about 3 years to build once they started actually building. For the Raiders' stadium in Vegas, it took 4 years. It took just under 4 years to build Jerry World in Dallas (Arlington, TX).
Cut the lease in half (or close to it) time-wise and agree to pay half the early termination fee---That gives the Bears and Arlington Heights about half a decade to plan it, build it, and open it. Seems perfect.
Bust
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WOW!
I read somewhere if the bears chose, they could just keep the track and build a state of the art stadium next to it. The expansion capabilities are that great!
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Oh ok, from google Maps view they look similar sized. That's awesome.
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The stadium itself is only on 7 acres.
Mighty Joe Young
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Typical Chicago reporter fear mongering in order to try to influence the Bears into stayingOUch! Hope there is a buyout release clause in them fine prints...
The long road to Arlington Park for Bears if bid accepted
The Bears could face several legal challenges with the city of Chicago if they do sign a contract to move to Arlington Heights.www.nbcsports.com
Let's play a game of hypotheticals. Let’s say the Bears are truly serious about moving the team from Chicago to the suburbs, and they didn’t simply make a bid on Arlington Park as a “negotiating tactic” as Mayor Lori Lightfoot accused. Let’s say Churchill Downs Inc., the current owner of Arlington Park, accepts the Bears bid and a contract is worked up. How much would be left to do before the Bears break ties with Soldier Field and move into their new home?
Turns out it’s a whole lot more than you may expect.
To start, the Bears would owe a large sum of money to the Chicago Park District for breaking their lease on Soldier Field early. Currently, the lease runs through the final game of the 2033 season, leaving 13 seasons left, unless the team and CPD mutually agree to end the agreement early. Based on Mayor Lightfoot’s comments last week, however, that seems unlikely.
Assuming the city doesn’t release the Bears from the lease, any Bears move to another stadium would be deemed an “improper relocation,” per the terms of the lease. Then, per the lease, “CPD shall be entitled to collect from the Club, as liquidated damages, an amount equal to one-hundred fifty percent (150%) of the aggregate of all Financial obligations…”
CPD didn’t respond to a request for information regarding the total bill for all those “Financial obligations” but according to the team’s lease that includes Permit fees ($6.3 million annually, per Sports Illustrated), plus “any other fees, expenses, payments or monetary obligations” the team owes CPD. While we don’t know what those other fees and expenses may be, 150% of that $6.3 permit fee alone comes out to $9.45 million that the Bears would owe CPD for each year remaining on the lease— and they’d have to pay all that money within 30 days of leaving. So, if the Bears officially terminated their lease via Improper Relocation with 10 years remaining that would be at least $94.5 million due to CPD.
Of course, just because Churchill Downs accepts the Bears bid in our hypothetical scenario, it doesn’t mean they’re going to get to work on building a new stadium right away. In fact, it doesn’t even mean the Bears and Churchill Downs will agree on a contract at all.
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He's not wrong but nothing in that prevents the Bear from more profit and much greater team value, even with the penalties. It will take 5 years from now to be up and running when you consider when the sale would possibly happen, design, negotiations with state/communities and constructing a huge site like that. Having to pay the city $75m in lease and penalties is nothing in the grand scheme. They can just make sure they get that much extra in their loan if they choose.
They are in such a poor profit making situation in their Soldier Field deal that anything they choose to do will be better for them. I would be so pissed at the city for having to put the money they did into the Soldier Field reconstruction only to have the landmark restrictions that were dictated to them being lifted right after completion. If you don't get concession and parking revenue, you need ticket sales and they have the smallest venue in the NFL. Bears should have bit this bullet 19 years ago and told the City to shove it or come up with something better.
Here's a view from 13 years ago, well after the build and no new stadium was in the discussion.
Why the Soldier Field Renovations Were a Mistake for the Bears and Chicago
If you're going to do something, do it right the first time. Unfortunately for the city of Chicago and the Chicago Bears , no one ever told them that...
Don't know if this is real or fake out by the Bear but it's time for them to make somebody else flinch. As it stands right now, Teddy will be remembered as a cuckold. That could change quickly with a new venue either in the burbs or the lakefront.
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BBBF
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I keep hearing that one of the motivators to by this land, with or without building the stadium is to increase the team value so the McCaskey's can sell the team. Could this also be a way for them to take advantage of loopholes, avoid estate tax and keep the team in the family? How is the debt of a business calculated into the value when it is time to pay the estate tax? Does it help if the Bears take on a massive debt on the land and designing the stadium, but do not build until Virginia does. Inheriting 300 empty acres has to be a big difference compared to inheriting 300 acres with a state of the art stadium is another.
TheWinman
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All you said is correct but you forgot to factor in the NFL. The NFL would be 100% behind the Bears moving to Arlington Heights. The NFL is powerful and would certainly make sure this got done. When is Lightfoot out of office? Do you really see her being reelected?OUch! Hope there is a buyout release clause in them fine prints...
The long road to Arlington Park for Bears if bid accepted
The Bears could face several legal challenges with the city of Chicago if they do sign a contract to move to Arlington Heights.
Let's play a game of hypotheticals. Let’s say the Bears are truly serious about moving the team from Chicago to the suburbs, and they didn’t simply make a bid on Arlington Park as a “negotiating tactic” as Mayor Lori Lightfoot accused. Let’s say Churchill Downs Inc., the current owner of Arlington Park, accepts the Bears bid and a contract is worked up. How much would be left to do before the Bears break ties with Soldier Field and move into their new home?
Turns out it’s a whole lot more than you may expect.
To start, the Bears would owe a large sum of money to the Chicago Park District for breaking their lease on Soldier Field early. Currently, the lease runs through the final game of the 2033 season, leaving 13 seasons left, unless the team and CPD mutually agree to end the agreement early. Based on Mayor Lightfoot’s comments last week, however, that seems unlikely.
Assuming the city doesn’t release the Bears from the lease, any Bears move to another stadium would be deemed an “improper relocation,” per the terms of the lease. Then, per the lease, “CPD shall be entitled to collect from the Club, as liquidated damages, an amount equal to one-hundred fifty percent (150%) of the aggregate of all Financial obligations…”
CPD didn’t respond to a request for information regarding the total bill for all those “Financial obligations” but according to the team’s lease that includes Permit fees ($6.3 million annually, per Sports Illustrated), plus “any other fees, expenses, payments or monetary obligations” the team owes CPD. While we don’t know what those other fees and expenses may be, 150% of that $6.3 permit fee alone comes out to $9.45 million that the Bears would owe CPD for each year remaining on the lease— and they’d have to pay all that money within 30 days of leaving. So, if the Bears officially terminated their lease via Improper Relocation with 10 years remaining that would be at least $94.5 million due to CPD.
Of course, just because Churchill Downs accepts the Bears bid in our hypothetical scenario, it doesn’t mean they’re going to get to work on building a new stadium right away. In fact, it doesn’t even mean the Bears and Churchill Downs will agree on a contract at all.
CHIBEAR
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Doesn't matter if she's out of office she's a season ticket holder but why you think the next mayor wouldn't represent he cities interests ?
The NFL would want all this stuff to be sorted out before they even got remotely involved and the McCaskey's just don't have the juice or the money.
The Stadium would still be in Cook County which adds all sorts of problems and anyone familiar with state ,city, county politics knows this .
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Lol there are players who's contracts are worth more. The Raiders move to Vegas was more complicated than this
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Meh, they were out of their lease after 2013. After that it was just a matter of finding a city from what I’ve read.
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NFL didn't need to comment. Looks like they are already on board if this happens and funding will be a non issue whether they choose this sort of assistance or not.
CHIBEAR
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Where does that say the Bears have gained access to funds to pay for a fully funded private stadium ?
Until they are sold to someone with a ridiculous amount of money its simply wishful thinking even the notion that somehow they will own it is a fantasy for the type of stadium everyone is expecting
Sobujhossain93
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This sort of funding means shares if ownership chooses that direction and why I said 'whether they choose'. We know Neil Bluhm has wanted Bears stock for years. Share values go up with the stadium so everyone wins if they decided to go this route. Please stop nit picking every post.