![]() Mixed-use developments have become the norm in recent years among new stadium developments across major U.S. While the prospect of a transit-oriented mixed-use and entertainment district anchored by a new enclosed stadium is exciting for the Bears and the entire state, there is much work to be done before we can close on the property, and then, whether we will develop it.” The Bears remain committed to Soldier Field and will honor the terms of its lease. "We are taking serious steps to evaluate the unique opportunity presented to us. As team officials have stated publicly, the Bears reiterated in the letter that they will "not be discussing or exploring" any other stadium opportunities while under contract to buy the Arlington Park site, including a potential renovation of Soldier Field. "Much remains to be decided, but any decision will be made in the best interests of the Bears long-term future, our fans and the Chicagoland community," the letter said. The Bears emphasized in the letter that there is still no guarantee the team closes on its $197 million purchase of the Arlington Park property, and that it may not redevelop the site even if it does complete the acquisition. in the gymnasium at John Hersey High School, at 1900 E. The letter and visuals come as the team prepares to discuss its vision for the property at a public meeting on Thursday from 7 p.m. The team said the stadium would be "enclosed" and "worthy of hosting global events such as the Super Bowl, College Football Playoffs and Final Four. The long-term project vision for the entire property is an ongoing work-in-progress, but could include: restaurants, office space, hotel, fitness center, new parks and open spaces, and other improvements for the community to enjoy." "Any development of Arlington Park will propose to include a multipurpose entertainment, commercial/retail and housing district that will provide considerable economic benefits to Cook County, the surrounding region and the state of Illinois. Construction of the project would create 48,000 jobs, and the completed project would create 9,750 "long-term jobs," the letter said. The team estimates the entire complex, if completed, will have an economic impact of $1.4 billion per year, spinning off $16 million annually in local tax revenue, plus $60 million per year in property tax revenue for Cook County and state. “While the Bears will seek no public funding for direct stadium structure construction, given the broad, long-term public benefits of this project, we look forward to partnering with the various governmental bodies to secure additional funding and assistance needed to support the feasibility of the remainder of the development,” the team said in the letter. It also lays out what the Bears estimate would be one of the largest development projects in the state's history and projections on the potential economic benefits for the area. The letter marks the first time the team has conceded it will seek financial assistance for the project.
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