Bears Share What Needs to Happen Before They Close on Arlington Park

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The Bears still intend to close on their deal to purchase Arlington Park this quarter, but there are still a few major things that need to happen before they do. Bears outgoing president/CEO Ted Phillips shared an update on the team’s proceedings in the suburbs on Tuesday and said the team is still working on two big things before they close on the property.

“The analogy I offer to people is if you’re closing on a piece of land or a house, it’s a quarter-acre lot, the title process is fairly straightforward,” said Bears chairman George McCaskey. “Usually it takes a couple of months. This site is massive. And there’s a lot to go through, both in terms of physical due diligence, entitlement due diligence and financial due diligence. That takes a long time. We want to make sure we get it right. We want to be methodical about it.

“You need to plan before you start digging,” said Warren. “I think what makes U.S. Bank Stadium so special, we spent almost a year planning, and planning is critical. That’s what I appreciate about the McCaskeys, they support the planning process. I think that will be really critical from that standpoint and I know we’re focused on Arlington Park and that stadium development project, I looked forward to leaning in to the stadium development project.

Which leads to the No. 1 question: when will the new home of the Chicago Bears be open and ready to host football games, concerts and more? “I’ll be able to answer that question to you in about six months when I’m able to sit down and really review things,” said Warren. “It wouldn’t be proper for me to say it. I’ve got to really sit down and get the information downloaded. I’ll be able to answer that . I’d be guessing right now.”

 

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