Overview
- Indiana’s Feb. 26 law created the Northwest Indiana Stadium Authority to pursue a domed stadium near Wolf Lake in Hammond, financed by new or higher hospitality and event taxes and featuring a proposed 35-year lease.
- Illinois lawmakers advanced a megaprojects bill that would freeze property taxes at pre-construction values for up to 45 years with negotiated payments in lieu of taxes and a sales tax break on building materials, but it still awaits a full House vote.
- Arlington Heights Mayor Jim Tinaglia warned that without state action by the end of March the Bears could reach a deal in Indiana, calling the upcoming legislative week crucial for keeping the project in Illinois.
- The Bears have said they are continuing site-specific due diligence and have not committed to a location, and team leaders have signaled a goal of opening a new stadium as early as 2029.
- Soldier Field remains the NFL’s smallest and open-air, the team’s lease runs through 2033 with a $10.5 million per-year early exit penalty, and Illinois taxpayers still owe about $467 million on the 2001 renovation.