Chicago Mayor Lori Lightfoot won’t let the town’s beloved Bears depart for the suburbs with out a battle. On Monday, she and different metropolis leaders unveiled their plans to re-renovate historic Soldier Area, the place the NFL staff has referred to as residence for greater than 50 years.
Lightfoot and the town doubtless face lengthy odds for now because the Chicago Bears agreed to purchase Arlington Worldwide Racecourse in Arlington Heights for $197 million final September with the plan to tear down the historic thoroughbred monitor and construct a brand new stadium there.
Nonetheless, she instructed reporters Monday the town will make a “compelling case” for them to not depart the town’s Museum Campus alongside the shores of Lake Michigan.
They need a tier-one stadium setting to maximise revenues, and we agree,” Lightfoot mentioned. “We’re going to preserve making the case to the Bears, the NFL, and the general public {that a} revitalized Soldier Area makes essentially the most financial sense for that storied franchise.”
Two of the three choices Lightfoot offered embrace the Bears as its future major tenant. Seating would develop from an NFL-low 61,500 to 70,000, and suites would improve from 133 to 140. There are additionally plans for brand new “experiential areas,” in line with the town’s launch.
As well as, one of many plans requires turning the open-air stadium right into a dome, whereas the opposite might result in a doable dome being erected.
The price for the upgrades might run as a lot as $2.2 billion, in line with metropolis figures. Nonetheless, metropolis officers mentioned that may nonetheless save the Bears as a lot as $1.5 billion than in the event that they constructed a brand new stadium at Arlington Park.
Contingency Plan in Case Bears Depart
Soldier Area was final renovated in 2003. Efforts to construct a contemporary stadium throughout the confines of the historic construction, particularly the rows of columns that flank the east and west sides of the stadium, backfired. Ultimately, that led the Bears to pursue a cope with Churchill Downs Integrated for the suburban race monitor.
Town has a 3rd plan if leaders can’t get the Bears to remain. Soldier Area would nonetheless be renovated, however the work would give attention to transitioning it right into a multi-purpose stadium that works higher for soccer. MLS aspect Chicago Fireplace FC additionally performs its video games on the stadium.
No matter which plan the town finally ends up using, Lightfoot mentioned the town would look to make Soldier Area a extra viable year-round vacation spot.
One fascinating identify talked about Monday by Lightfoot was Landmark Improvement President Bob Dunn. His Landmark Improvement agency developed the three choices the town has laid out for the way forward for the stadium.
Dunn is a key determine behind One Central, a multi-billion-dollar mixed-use improvement undertaking that’s proposed for a 32-acre lot not removed from Soldier Area. One Central was additionally the location for Onerous Rock Worldwide’s proposed on line casino within the metropolis. Finally, although, metropolis officers selected to proceed with a $1.7 billion bid from Bally’s Corp. that might be constructed between the River North and the River West neighborhoods.
Extra Information Coming This Week?
After Lightfoot’s presentation, the Bears re-released a press release to native media it made practically three weeks in the past concerning its stadium search course of.
“The one potential undertaking the Chicago Bears are exploring for a brand new stadium improvement is Arlington Park. As a part of our mutual settlement with the vendor of the property, we aren’t pursuing different stadium offers or websites, together with renovations to Soldier Area, whereas below contract,” the staff’s assertion learn.
Lightfoot’s presentation is probably not the one Bears stadium information this week. Churchill Downs will host a name with funding analysts to assessment its second quarter financials on Thursday morning. The Louisville-based gaming firm could have an replace on the sale at the moment.
When Churchill Downs introduced the Bears because the profitable bidder final 12 months, the corporate mentioned it anticipated the Arlington Park transaction to shut both late this 12 months or early in 2023.