George Halas used to refer to his alma mater as "The beloved Illini" and he did kinda completely steal their uniform scheme for the Bears. So it would only stand to reason that he, at some point, probably referred to his team as "The beloved Bears". As Halas aged and the line between the two in his head began to blur, he would just refer to either team as "The Beloved" to prevent any old man gaffes in the papers.
I have no written, oral or online sources for this, but if you believe it to be true in your heart...then it already is.
Happy Friday Chicitysports.com!!!