Bears move toward new stadium by buying Arlington Park property for $197M
Bears move toward new stadium by buying Arlington Park property for $197M
The team announced its Purchase and Sale Agreement with Churchill Downs today, moving it closer to building a new stadium in the northwest suburbs.
chicago.suntimes.com
The Bears announced Wednesday morning they have agreed to purchase the Arlington Park property in Arlington Heights, but stopped short of promising to build a new stadium there.
The purchase will take time to complete, similar to closing on a house, but Churchill Downs selected the Bears’ bid and is moving toward finalizing the sale.
“[It’s] the critical next step in continuing our exploration of the property and its potential,” team president Ted Phillips said in a statement. “Much work remains to be completed, including working closely with the Village of Arlington Heights and surrounding communities, before we can close on this transaction.
“Our goal is to chart a path forward that allows our team to thrive on the field, Chicagoland to prosper from this endeavor and the Bears organization to be ensured a strong future. We will never stop working toward delivering Bears fans the very best experience.”
