‘Time is money,' but Bears still open to all stadium options, Warren says

Time's gone by, but the Bears' mission for a new stadium remains the same -- or so Kevin Warren said during the team's end-of-season press conference, where he detailed where things stand.

"The priority is to make sure we build a world-class stadium for our fans," CEO/President Kevin Warren said Wednesday at Halas Hall.

After running into a tax-related impasse with Arlington Heights, the Bears reopened their interests to other locations for the stadium. But they have yet to make a definitive decision on where that will be.

They're not ruling out any options, but Warren noted a few standouts.

Arlington Heights

"We still own the property," Warren said of Arlington Heights. "We're still in communication with the individuals in Arlington Heights. We have had meetings with individuals in the city of Chicago. So we're focused on again, back to making sure we take the approach of doing the right things. That stadium is ... that's a 40-year decision. And we need to make sure that we get that right and that we're very deliberate in our thought process."

Nearly one year ago, on Feb. 15, 2023, the Bears released a letter saying they closed on the purchase of the 326-acre plot of land in Arlington Heights and the Arlington Park property "to secure the potential of beginning a new and exciting chapter for the Bears, our fans, the Chicagoland community, and the State of Illinois."

However, over the summer, their mindset about Arlington Heights shifted when they ran into issues of property assessment with the site.

The property was previously valued at $33 million by Cook County. However, during a triennial reassessment, Assessor Fritz Kaegi’s office placed the value at $197 million. That six-fold spike naturally would send the Bears’ property tax bill through the roof.

Churchill Downs, who was on the hook for the increased tax bill in 2022, filed an appeal saying that the property value was $37.2 million. School districts in the area, which are funded by property taxes, countered with $150 million. The two sides eventually settled for $95 million, which took Churchill Downs’ tax payment from around $16.2 million to just under $7.8 million. But that's just a one-year agreement between both sides. The Bears will be on the hook next.

But would they do it?

"I try to foresee pretty much everything," Warren said. "That's just the nature of it. I mean, that's why we're here. If everything was easy, and if everything was in place, we wouldn't be here. And so I understand that, again, I don't look at it as a roadblock. I look at it as an opportunity for us to build relationships and do something special together."

Recently, the Arlington Heights school districts came back with an offer to lower the property assessment to $160 million based on two independent appraisals by MaRous & Company. That's still a long way from the $33 million the Bears have stated they see the property valued.

In early December, when the announcement was released, the release also stated they expect the Bears to counter with a value by the end of the year. It's unknown whether or not the Bears have submitted another property value, or how much that value would be.

But, Warren said as much, the longer you wait, the more expensive things become for the stadium.

"Just from the way the market is, the longer you wait, the more expensive it is to build any project," Warren said. "I'm kind of making sure I'm focused on not rushing, but making sure that we're deliberate in that stadium process because truly in that world time is money. And I've said it all along: at the moment that a shovel goes in the ground, I'm confident that we will be able to have a building to play in 36 months after that happens."

But discussions will happen shortly between both sides, according to Warren.

"I know there's been some outreach that we need to follow up on to make sure we continue that dialogue. And again, this is just a long process. So I suspect sometime here in the near near future, that our attorneys and their attorneys will continue to have dialogue. And so we've had a very respectful relationship with the districts."

Chicago

The Bears have also remained in contact with the city of Chicago. Warren gushed over the city on Wednesday and voiced it as a serious consideration for their future stadium site, saying the possibility "intrigued" him.

"Very rarely you do get an opportunity to have such a beautiful downtown with a vibrant business community with an absolutely beautiful lake and the energy that goes along," Warren said. "And so I always focus on you know, what's a way that we can, you know, bring together the beauty of the lake, the beauty of downtown, the business community, all the art exhibits, to bring that together for an environment? It's always about the fans. How can we create an environment that they really enjoy?"

The Bears and Chicago Mayor Brandon Johnson have also met twice to discuss the stadium. Both times, they've released joint statements surrounding the positive nature of their conversations.

There were also reports the team could consider building on the South Lot at Soldier Field.

"What intrigues me about downtown is I strongly believe Chicago is the finest city in all of the world," he said.

He added that the size of the stadium may not be as big of a factor.

"Anytime you have 326 acres, you can do more," he said, referring to the difference between the Arlington Heights and Chicago locations. "But it's amazing, you know ... so you look at US Bank Stadium, that's not a real big footprint, but you've been able to create, you know, that environment and so yes, there are things that environment downtown that you can create that you don't have in the suburbs or things in the suburbs that you can create that you don't have downtown and I'm one of those individuals that are not only - I look at life as the glass is half full. I look at the glass is full and it's pouring over. And there are so many things that we could do together. So absolutely we could build something that would be magnificent downtown."

Other Locations

Speculation about where the Bears stadium will be built has been ongoing for months now. Since the Bears declared their options are open further than Arlington Heights back in the summer, several municipalities have expressed their interest.

Naperville, Aurora and Waukegan have all expressed interest in hosting the stadium site. The Bears have even reportedly looked into using the South parking lot at Soldier Field to construct a new stadium. Since Soldier Field lost its historical landmark status in 2006, it can technically be knocked down.

Regardless of where the Bears stadium ends up, Warren is the right guy for the job.

"I try to be an out-of-the-box big thinker and like I said my passion and love for the Chicagoland area ... it's a blessing to work, not only with the Bears, but to be able to work on a potential stadium solution. I'm excited every single day that I get up," Warren said.

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