After years of speculation, the Chicago Bears have decided where to develop their new stadium, and the result isn't in Illinois' favor.

The team's board of directors met Thursday and voted to move forward with its new stadium project in Hammond, Indiana.

"We believe a world-class stadium project in Hammond will transform the region, connecting Northwest Indiana to the South Side of Chicago through the Loop and across neighborhoods and suburbs stretching north of the city," Chicago Bears Chairman George H. McCaskey and President and CEO Kevin Warren said in a joint statement released Friday on X.

This will be the first time the team has been based outside of Illinois since its founding as the Decatur Staleys in 1921, according to the NFL.

The announcement comes less than a week after the Illinois General Assembly adjourned without the House taking up a vote on a bill the Senate passed late Sunday night that would allow the creation of a stadium authority. The General Assembly isn't scheduled to meet again until the fall.

In a press conference on Monday morning, Gov. JB Pritzker made his stance clear.

"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," he said.

Indiana Gov. Mike Braun signed legislation in February to incentivize the team's relocation to the state, with Indiana investing about $1B through various financing mechanisms and the Bears contributing $2B to the project.

"We made it clear from the beginning that Indiana is open for business," Braun said in a statement on X. "I’m thrilled to sign Senate Bill 27 to create the framework to build a new world-class stadium in Northwest Indiana. Now let’s get this across the goal line."

The future of the team's 326-acre property in Arlington Heights, Illinois, purchased in 2023 for $197.2M, is unknown, though many speculate that it will be sold.

The team's lease at Soldier Field, which is owned by the Chicago Park District and managed by ASM Global, is set to expire in 2033.