South Side or Burbs?
The Bears are still playing political games, trying to get a boatload of taxpayer money (that doesn't exist) to get a stadium deal for a team that sucks and an ownership group that has no good plans to improve it:
- The Chicago Bears are considering an alternative to their proposed stadium on the city's lakefront. It's the former site of the Michael Reese Hospital, which has been closed for 16 years. The 48-acre site in Bronzeville is still ripe for development.
[...] In the past, the Bears have rejected the site, saying it was too narrow and presented engineering and security challenges because of Metra tracks on the property.
In April, the Bears released plans for a new state-of-the art stadium on the lakefront next to Soldier Field, their current home. They offered up more than $2 billion of their own money to build it, but said they also needed at least that much in public funding.
And that plan has gone nowhere among lawmakers in Springfield. "I think they are just recognizing there's not a lot of political will behind them for the south lot," said Danny Ecker, with Crain's Chicago.
While the Bears stadium focus has apparently shifted again, they still own the $197 million 326-acre site in Arlington Heights. And the mayor of Arlington Heights said the town remains in talks with the team about building on the former home of the Arlington Park race track.
From a business standpoint, the suburban site makes the most sense. The Bears would own a massive footprint full of future hotel space, sports bars, club and casino space and they wouldn't have to split parking revenue, concession money, ticket sales or any on-site stores/merchandise establishments. It has all sorts of easy transportation infrastructure in place....and it's still in Cook County, so Prickwrinkle would have all sorts of influence over it without Chicago's issues.
posted by SCC at 12:03 AM
29 Comments:
Nobody invests 5 Billion Dollars in Arlington Heights. The Bears don't want to own a stadium because stadiums are not winning economic bets on their own. The synergies associated with them can be, as it spurs development and visitors to the City. The Arlington Heights site is an island that true real estate experts know will not create the visits a City site will. Further, owning a stadium comes with TAXES that are not paid on a City owned site. 100 MM a year in taxes is an incredible drain on the cash flow. You get 10 football games and maybe 30 additional dates a year, if you are lucky, at the site. Interest on a 3 Billion Dollar investment doesn't even get paid for by the revenue. Owning a stadium takes an entire new business, a new business model and creating an entire company to run it. The Bears don't want to own the stadium, they want to control it. They get the fans to put in seat license money, they get revenue streams from the new stadium, increased ticket prices and suite revenue without the headaches, costs and liabilities of owning the stadium. If a Casino is involved (there are no licenses available) the site makes sense. If it takes development of the site other than a stadium to make it work, you need TONS of partners with cash, a vision, etc. in an essentially residential neighborhood with no synergies. Nobody invests 5 billion in Arlington Heights. If the Michael Reese site works, it will be a TIF district with a 40 year payoff so taxes are eliminated (essentially a public owned site) with incredible subsidies to spur other development. Only way a new stadium makes sense. Personally, I think they should stay where they are, and if the Arlington Heights stadium does get built, it will only be with incredible subsidies everyone is complaining about now.
Right by 31st street beach?
Anyone starting a pool on when the 1st homicide on the property will be?
Just make sure the tax payers get stuck with the bill.....
Added bonus: Thinner envelopes necessary for build-out and ongoing operations.
As long as THEY....don't pay for it and the tax payers get stuck with the bill...
Does not matter where it goes, as long as Top Dollar is made and Got...
Now...Let, besides those parking spaces that were sold,....what else you have for sale ...water dept maybe ?
Bye.
With the current team playing like crap! Why would they need a new stadium?
They already own Arlington Heights property. And this was the plan until the Bears hired the guy from NCAA to run front office? Now he wants lake front stadium? Just stupid outsider changing plans? The sooner they start building out in Arlington the sooner they get a indoor stadium to play in?
How anybody shows up for the team is mind boggling to say the least. Bottom feeders da whole organization
Arlington Heights makes sense.
The McCraüskey’s are LOSERS. They will screw this up more than they’ve screwed up the team. Let them pay for any new stadium or future alteratiins to Solider Field.
It sure would be nice if people gave the nfl the old heave ho.
Fuck the Bears...let em go! Hopefully the Cubs are next !
Warren is a fixer: he was hired specifically to get a stadium built in the city. Look at his resume; that's what he did when the Vikings developed their new stadium in downtown Minneapolis. He also expanded the Big Ten to include universities well outside of the Midwest. Don't kid yourselves, the McCaskeys are as dumb as foxes.
Arlington Heights zoning and code enforcement gives mom and pop hotdog stands a hard time. I cant imagine how hard it will be to develop Arlington Park. Such a project is way over the heads of that town.
Why not consider 16th and Pulaski, garden spot of Chicago?
The older I get, the less use I have for sports...
Didnt they stick the taxpayers with a massive bill last time they rebuilt Soldier Field? No one cares about football anymore. Let them foot their own stadium.
Change the name to "Chicago Losers" and I'm on board.
Might have a stronger bargaining position if they could actually win games.
You make a good case...
But wait, there is more!
Changing demographics and Conehead pushing the city into a deeper financial hole.
For many years we were members of the History and the Science and Industry museums.
Always good never any problems.
Then a suburban copper friend was visiting the Science and Industry Museum, as he and his wife were extracting their children from the car seats some youths meandered by and slammed the door on his hand.
They ran off with his phone and wallet, being in a hurry they did NOT notice anything else.
We retired to the wilds of DuPage's and avoid the city like the plague.
Most of the people we know also avoid the city.
"You don't need a weatherman to know which way the wind blows"
Is Gately Stadium still around? Perfect spot for a high school team.
just like the white sox, leave, taxpayers do not care
How about disbanding the Bears since no real man has watched football since 1985?
Who cares, they suck
👍
cicero ill may be in the running too
Stopped going to overpriced Bears games in Soldier field years ago.. Before the Superbowl years.
Did see the Super Bowl of Rock with Lynyrd Skynyrd back in the 70's though..
Why do they insist on wanting to build in an area where there will always be issues with traffic control. You can only go 3 directions from this site too. Driving into less then desirable areas. Too far from trains too.
Why would we care about these sports teams who don't care about us? Waste of time and money.
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