Arlington Heights Board: We Could Reject Bears’ Stadium Plans
As you're probably aware, there's been a huge amount of discussion and anticipation regarding the Chicago Bears potentially relocating to a as-yet-to-be-built stadium complex in Arlington Heights--but it's important to remember that it's not a done-deal quite yet.
And for those of us who are long-time fans of Chicago's various sports teams, it should come as no surprise that the saga of the Bears leaving Soldier Field (like many things in life) may not go as smoothly as we might hope.
When Asked If The Arlington Heights Village Board Could Reject The Bears' Plans To Relocate There, Arlington Heights Mayor Tom Hayes Responded With "It's Certainly Possible"
That's according to a report at DailyHerald.com, which goes on to say:
Hayes said the pending agreement serves to assist the Bears in closing on its purchase with property owner Churchill Downs Inc., but that at some point in the future, "we'll be making other decisions." He reiterated that the public will have an opportunity to provide input before any votes are taken. "The village has quite a bit of say in terms of what will go there ultimately and how it will be built and how it will impact our community," Hayes said. "We've got a long way to go."
In Spite Of The Possibility Of Rejection By The Arlington Heights Village Board, Most Board Members Spoke Positively About The Chicago Bears Relocating There
Keep in mind that deals like this one (and there aren't many that compare) involve seriously big money, which will bring along its own set of problems. How big is the money here?
According to Patch.com, if the deal with the Bears is eventually completed, "experts are predicting it will be one of the largest real estate deals in state history. The Bears have still not closed a deal on the 326-acre property, for which they signed a $197.2 million purchase agreement in September 2021."
And the purchase agreement combined with what the overall price-point will be for the property does not include what it's going to cost to build the stadium itself. If the Chicago Bears want a SoFi Stadium-type structure, you're looking at a price tag of nearly $5.5 billion.
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