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$3.6 million tax deal may be the catalyst for the Chicago Bears' $5 billion stadium proposal in Arlington Heights. The agreement was outlined in a 12-page memo of understanding between Arlington Heights officials and the Bears, as reported by the Daily Herald. Negotiated over 18 months, the deal addresses the tax obligations for the 326-acre property purchased by the Bears in 2023 for $197 million.

    The proposed agreement assesses the site's value at $124.7 million, significantly lower than its purchase price, and classifies it as "unimproved" real estate after demolition of racetrack buildings. This reduces the tax rate from 25 percent to 10 percent, allowing the Bears to pay $3.6 million annually through 2027. However, if construction plans are not submitted or building permits applied for, annual increases of 2-5 percent will be implemented.

    The agreement includes conditions to motivate progress on development and safeguards for Arlington Heights. If the Bears pursue a stadium project outside the community, the deal becomes void. Approval is still required from Arlington Heights and three local school districts before the agreement takes effect. The Bears have yet to commit fully to Arlington Park, but this clarity and financial predictability may strengthen their focus on the location.