As the Chicago Bears forge ahead with their efforts to build a contender on the football front, machinations remain ongoing in their build to find a home for their new stadium. For months, everybody was convinced that would be in Arlington Heights after they purchased Arlington Park for $197 million. However, disagreements with the local school districts over property taxes have put those plans on ice. In the interim, team president Kevin Warren seems to have pushed the Bears in a new direction, entering discussions with Mayor Brandon Johnson about a new site along the lakefront in Chicago.
There is some momentum towards this possibility, but many financial hurdles are standing in the way. Public funding will almost be impossible to come by without immense resistance. That means Warren may have to get creative in navigating such waters. So one can imagine it shocked him when he got a call from an unlikely ally: the Chicago White Sox. They, too, are seeking to build a new stadium in the South Loop, and their developer is apparently interested in forging a partnership with the Bears, according to Fran Spielman of the Chicago Sun-Times.
It would be an unprecedented move.
“Wouldn’t it be unbelievable for our city if you were to see two amazing facilities for these great sports teams built at once?” said Curt Bailey, president of Related Midwest, which oversees the vacant 62-acre site known as “The 78,” where the new White Sox ballpark would be built.
“I’m a Bears fan. I want to partner with the Bears to create these two great environments and make our city even better. Yes, we have spoken with [the Bears] and I am very optimistic on putting together something with that great franchise. … They’re a terrific franchise, and we look forward to both trying to do something great for the city of Chicago at the same time.”
Bailey said he hasn’t seen the renderings of a domed lakefront stadium south of Soldier Field — possibly surrounded by a hotel and entertainment district accessible to public transit — that the Bears have shown to state legislative leaders, including House Speaker Emanuel “Chris” Welch, D-Hillside. But he supports the concept.
“That sounds awesome, and I am for that,” Bailey said. “We’re working with them … to have a financing partnership that makes sense for us and for them and for the city and the state.”
The plan is a bold one for the Chicago Bears.
It would involve a three-pronged approach to lay the groundwork. One would be a 35-40-year extension on bonds issued by the Illinois Sports Facilities Authority backed by a two-percentage-point hotel tax increase. Next would be a sales tax overlay district with the city, state, and county forfeiting a portion of sales tax revenue generated within the project boundary. Lastly would be a $450 million subsidy from the tax increment financing district to develop the site. It’s technical, but the idea has merit. Selling it will be a challenge, as is everything when Illinois politicians are involved.
If such a partnership were formed, it would ease some of the financial burden the Chicago Bears would face. As of now, they and the White Sox are competing against each other for priority treatment on the stadium front. Bailey believes it would be better for both parties to find common ground and work together. If things go as hoped, the downtown area could have two brand-new stadiums in its midst to help drive economic development for the city.
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Everyone know Reinsdorf conducts himself like a crook. Has been ripping off fans with his stadium nonsense as well as the general public. The Bears must look at Reinsdorf like partnering in a business deal with Trump. Be forewarned.
Why in the world do the white Sox need another new ballpark? If you can’t get at least 40 years from a baseball park then something is wrong. They don’t fill the one they got. Ridiculous
Want to see the dream complex for the Bears and White Sox. Take an overhead view of Kauman and Arrowhead stadiums in KC. Both are surrounded by PARKING and INTERSTATE Access. The biggest problem with Soldier field – I am a season ticket holder, but no longer go to the games – is the lack of Access. It is landlocked between railroad and body of water. So is the 78! As a fan of both teams, I want to be able to drive without gridlock, park, tailgate, enjoy the gameday experience and then head home unencumbered. Arlington Heights could achieve… Read more »
@DrJB A new sports stadium creates lots of positive externalities that benefit a lot of people beyond the owners of the stadium, that is why cities are willing to dish out money for them all the time. When the Padres built their stadium in downtown San Diego, for example, it raised that whole area in its immediate vicinity -it sounds very convenient to say “Hey Padres, YOU pay for everything, while we reap some of the benefits.”
With businesses moving out of Chicago because of crimes, the Bears would be stupid to build a stadium on the Southside. They would have to call out the national guard every time they played a home game. Moving out of Crook County seems to be their only option at this point. This article is written about a guy who owns the property right or his rep. How would it be teaming up with if your building 2 stadiums, other than the fact the Bears would pretty much eliminate tailgating. Face it folks, people depending upon public transportation are not going… Read more »