Greg Hinz: Bears' desire to build a new stadium in Chicago is 'sincere'

(670 The Score) The Bears have shifted their focus for a location to build a new stadium from the 326-acre property they own in Arlington Heights and back to the city, Greg Hinz of Crain’s Chicago Business reported last Friday.

That news came as the Bears and three local school districts in Arlington Heights have had disagreements over tax assessments on the property there. The two sides are about $100 million apart in their valuations of the property, Crain’s reported.

While a big organization like the Bears dealing with messy politics on such a large endeavor is a familiar story, Hinz believes the team's interest in building a new stadium on the lakefront is "sincere" rather than a bluff to get a better deal from Arlington Heights.

“What I’m hearing from key people in Springfield, from ranking people at City Hall and from people around the team is that, yeah, this is sincere," Hinz said on the Mully & Haugh Show on Monday. “It’s not an attempt to lever a better deal in Arlington Heights, although that could happen if they don’t work it out with the city. They are genuinely interested in making a run at it. That’s what I’m told.”

The Bears are looking into the possibility of building a new stadium in the lot just south of Soldier Field along the lakefront. Momentum for that has grown as new Bears president/CEO Kevin Warren and first-year Chicago mayor Brandon Johnson have held meetings and created a strong relationship.

The Bears agreed to buy the Arlington Park property in September 2021 and closed on that purchase in February 2023. That purchase was led by former president/CEO Ted Phillips. The Bears also had a tense relationship with former Chicago mayor Lori Lightfoot, who lost in 2023 in her bid for re-election.

In addition to the disagreement over the property tax assessment for Arlington Park, the Bears have concerns with inflation as they consider the cost of building an entertainment district around the potential stadium in Arlington Heights, according to Hinz.

The Bears could strike a deal to build a new stadium in Chicago through a unique bond with the Illinois Sports Facilities Authority. To do so, it would require approval through the state. Because of that, Hinz believes a plan for the stadium could come to fruition this year.

“There is no question that they seem to be getting ready and they’re very aware of the timetable,” Hinz said.