Chicago Bears’ Proposed $4.7 Billion Domed Stadium Clears One Big Obstacle

The Chicago Bears’ goal of building a new $4.7 billion domed stadium just surpassed one hurdle as the team reached reached a tentative agreement to settle a property tax dispute with the village of Arlington Heights, Illinois. The Bears own 326 acres on the site of the old Arlington Park horse racing track.

Now the agreement just needs the approval of the Arlington Heights village board and boards of the three school districts that will be impacted, according to Arlington Heights Mayor Tom Hayes. Based on a statement issued following the agreement, it sounds like that won’t be a problem.

“We continue to believe Arlington Heights remains an incredible opportunity for the Chicago Bears Football Club,” the village of Arlington Heights and school districts said in a statement to NBC Chicago.

“The Village and the school districts have a common understanding with the team on how to create a framework for potential future development planning, financing, and property tax certainty in Arlington Heights that works for all parties. We look forward to future conversations.”

That doesn’t mean that the Bears will be building their new multi-billion dollar stadium there though.

“The Chicago Bears remain focused on investing over $2 billion to build a publicly owned enclosed stadium on Chicago’s lakefront while reevaluating the feasibility of a development in Bronzeville,” the team said in its own statement.

“That being said, we remain significant landowners in Arlington Heights and establishing a framework for potential future development planning, financing and property tax certainty has been a priority since the land was purchased. We continue to have productive conversations with the village and school districts and are aligned on a framework should we choose to explore a potential development.”

There is also the small matter of the Chicago Bears’ request for more than $2 billion in public funding from the state of Illinois.

Front Office Sports reports that “the earliest any state funding for the new Bears stadium could even start to move toward being approved would be the spring of 2025.”

Last year, the Bears revealed a video showing their concept of what they would like their new stadium and the surrounding area to be when it is completed.

That sure beats former Chicago Mayor Lori Lightfoot’s idea to just slap a $2.2 billion dome on the Bears current home, Soldier Field.