The Chicago Bears have unveiled their latest plan for a new stadium, which will be located on Chicago’s lakefront. The Bears had previously considered moving to the suburbs, but have now decided to remain in the city. The new stadium will be enclosed and publicly owned, and will include additional green and open space with access to the lakefront for families and fans.
City officials are on board with the plan and will participate in Wednesday’s announcement. The Bears purchased land in the suburb of Arlington Heights last year, but backed out of the deal when they were told the property taxes would be significantly higher than expected.
The Bears are now hoping to get tax breaks and taxpayer financing for their new stadium in the city. What kind of incentives the team is seeking remains unclear, but it is sure to be a major issue of discussion as the project moves forward.
