$ The Chicago Bears announced on Wednesday that they have agreed to buy the Arlington International Racecourse in Arlington Heights, Illinois. The news was first reported by The Athletic, and it indicates that the Bears may be moving out of Soldier Field in downtown Chicago. In a statement, Bears President and CEO Ted Phillips said, “We are excited to have executed a Purchase and Sale Agreement (PSA) for the Arlington Park property.” “We appreciate Churchill Downs Incorporated’s efforts in bringing us to this point. Mayor Tom Hayes and the Village of Arlington Heights have also been supportive. The completion of the PSA was a critical next step in our investigation of the property and its potential. Before we can close on this transaction, there is still a lot of work to be done, including working closely with the Village of Arlington Heights and surrounding communities. Our goal is to chart a course forward that will allow our team to excel on the field, Chicagoland to benefit from this venture, and the Bears organization to have a bright future.
In June, the Bears made an offer to buy the 326-acre Arlington International Racecourse property. The Bears will have to pay $197 for it. The sale is expected to close later this year or in 2023 for a total of $2 million. The Bears’ lease at Soldier Field runs until 2033, but if they break the least in 2026, they will reportedly have to pay the city $84 million. Arlington Heights Mayor Tom Hayes said, “I could not be more excited about the news that the Chicago Bears have signed a Purchase and Sale Agreement to buy the Arlington Park property in our community.” “My goal with any redevelopment has always been to put this prime piece of real estate to its best and highest use, and I can’t think of a better use than this.” Soldier Field first opened in 1924, but the Bears have called it home since 1971. It hаs undergone numerous renovаtions over the yeаrs in order to keep up with new stаdiums. Soldier Field, on the other hаnd, hаs а problem finding “the sweet spot between modernity аnd mаturity,” аccording to а recent NFL stаdium rаnking by Sporting News. 004 $$$$$$$$$$$$$$$$