One NFL team appears to be a step closer to finding a new home.
The Chicago Bears have made a formal request for the demolition of the Arlington International Racecourse in Arlington Heights, a Chicago suburb where they intend to put up a $2.2 billion stadium for the team. They purchased the 326-acre site for $197.2 million in February and are planning to surround the arena with commercial establishments costing around $5 billion.
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The team has a lease with Soldier Field until 2033, but could choose to leave the stadium by 2026 as long as they pay the city of Chicago fines of as much as $90 million per year.
However, Cook County, which is where both Soldier Field and Arlington Heights belong, has raised the price of the value of Arlington Park’s land from $33.5 million to $197 million, likely driven by the Bears’ interest. This adds $15 million annually in property taxes to the franchise’s bill for the land.
The team has already filed an appeal with Cook County, but any changes could keep the iconic football club in downtown Chicago for most or all of the duration of the team’s lease at Soldier Field.
Soldier Field, which first opened in 1924, is the oldest stadium that an NFL team currently plays in. The Bears have played their home games at the downtown Chicago venue since 1971, when they moved from Wrigley Field, which is where the Chicago Cubs play their baseball games.
