Illinois' Bears Bill Stalls, Setting Stage For Potential Indiana Move
Illinois' chances of keeping the Chicago Bears in the state took a potential blow early Monday morning after the state legislature passed its $55.9B budget without including incentives for stadium development.
State legislators threw together a last-minute Hail Mary late Sunday, with the state Senate approving a bill that would allow specific municipalities in Cook County to create a stadium authority governing body. It replaced a previous concept that would have enabled the Bears to negotiate a payment in lieu of property taxes.
But the legislature adjourned without the state House taking up a vote on the bill, and it isn't scheduled to reconvene until the fall.
During a press conference Monday morning, Illinois Gov. JB Pritzker addressed his stance.
"The reality is I wasn’t willing to give up billions of dollars of taxpayer money in order to give it to a billionaire-owned family or team, and believe very much that the incentives that we provide for businesses ought to be similar to the incentives we provide to this type of business," he said.
In a response to the legislative action, the team released a statement outlining its next steps.
"We will finalize our evaluation of both Arlington Heights and Hammond, and remain on the late spring/early summer timeline that we have previously communicated," the team said. "We will provide an update when we have a decision to share."
The body could call a special session to take up the issue, but House Speaker Chris Welch told reporters on Monday that wouldn't happen, though the team's needs could still be addressed.
"Our caucus is used to processes," Welch said, according to The Athletic. "Our caucus is used to taking our time and getting it right. And it’s proven over the last five years, five and a half years now that those processes work."
The Bears' stated timeline for a decision seems to put Indiana in the driver's seat to lure the team across state lines.
Indiana Gov. Mike Braun signed a bill at the end of February that creates a financial framework for a new Bears stadium in Hammond. The team would invest over $2B in the project, while Indiana would put in about $1B through a host of financial levers.
The state would impose a food and beverage tax, an innkeepers' tax and an admissions tax to pay back the bond the state would issue for the construction of a new stadium. The taxes would expire when the stadium is paid off.
About 11% of Bisnow readers either are involved in CRE deals near the proposed stadium sites or are interested once the team announces a permanent home, according to a March survey.
The Illinois bill, if passed, would function similarly to the legislation Indiana passed, giving the Bears control over a stadium they wouldn't technically own for decades, according to The Athletic.
The Bears have spent more than five years pursuing a new home, inking a purchase agreement for the former Arlington Heights Racetrack in 2021 and finalizing the $197.2M buy in 2023. The team also proposed a stadium along the lakefront in 2024 near its existing home at Soldier Field.
