Chicago Bears’ Stadium Plan to Cost Public $855 Million

The Chicago Bears’ vision for a $5 billion stadium-anchored campus in Arlington Heights could deliver a revenue windfall for the northwest suburb — but only if the math holds up.

Two economic impact studies released Tuesday show the NFL team’s proposed mixed-use redevelopment at the former Arlington International Racecourse would generate at least $15 million annually for village coffers, Crain’s reported. The development, slated for more than 1,100 residential units, a hotel, office space and retail, could yield $510 million in tax revenue for the village over four decades.

But officials in Arlington Heights cautioned that the rosy revenue picture doesn’t yet account for the steep price of public infrastructure upgrades — as much as $855 million — needed to support the project.

The reports, prepared by Bears consultant HR&A Advisors and vetted by the village’s own adviser Hunden Strategic Partners, highlight expected gains from sales, amusement, hotel and food and beverage taxes. The Bears’ analysis goes further, projecting $18 million a year for the village, $38 million for the state and $12 million for Cook County, plus 9,000 jobs across Illinois. Neighboring suburbs such as Rolling Meadows are already primed to cash in on redevelopment projects to siphon off some of the economic activity should the project go forward.

Even so, local leaders stressed that the project won’t move forward without a net fiscal benefit. Arlington Heights Mayor Jim Tinaglia said in a statement that the findings show great potential, while noting ongoing studies of traffic, transportation and municipal service costs.

At the statehouse, the numbers haven’t yet swayed lawmakers. House Speaker Emanuel “Chris” Welch told a crowd in Arlington Heights Tuesday he’s unsure whether a pending megaproject bill — legislation that would let developers negotiate decades-long property tax deals with local authorities — has the votes to pass, the Daily Herald reported. The measure, backed by the Bears and organized labor, doesn’t mention the team but would clear the path for its proposed tax break.

Democrats hold a supermajority in the House, but Welch said he won’t bring the bill to the floor without clear support, especially from Chicago’s 26 legislators. Gov. J.B. Pritzker has signaled openness to the megaproject concept but reiterated the team must first pay off $534 million still owed for Soldier Field’s 2003 renovation.

The Bears, who earlier this month said they are committed to pursuing the Arlington Heights site over a competing South Loop option, are betting their stadium could deliver Super Bowls and other mega-events — the type of splash that suburban officials may welcome but that Chicago power brokers are reluctant to subsidize.

The question for Arlington Heights is whether the promise of increased revenue and regional prestige outweighs the risks of footing the bill for the infrastructure needed to make it work. In a statement on the village’s website, officials made clear they will not approve the project “unless there is a net fiscal benefit — meaning the village’s new revenues must exceed new expenses.”

— Eric Weilbacher