Chicago Bears complete $197.2 million purchase of Arlington Heights property

The Chicago Bears purchased the property that they’ve been sizing up for a new stadium in suburban Arlington Heights on Wednesday.

The Bears announced that they bought the 326-acre property for $197.2 million.

The team cautioned, however, that the purchase doesn’t mean plans for a new domed stadium and an entertainment district will come to fruition.

“There is still a tremendous amount of due diligence work to be done to determine if constructing an enclosed state-of-the-art stadium and multi-purpose entertainment district is feasible,” the Bears said in a statement.

The Bears currently play at Soldier Field in downtown Chicago.

Economic analysts say creating a Bears entertainment district would create more than 48,000 jobs and generate $9.4 billion for the local economy.

“The Bears will continue to work closely alongside the Village of Arlington Heights, surrounding municipalities and their residents to solicit extensive feedback on how we can best benefit local communities and Bears fans across Illinois,” the statement reads. “This planning will include a robust diversity, equity and inclusion program that prioritizes local hiring throughout every stage of the development.”

Reporting by The Associated Press.

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