The agreement will essentially serve as a roadmap, defining how future plans and processes will be reviewed as the project develops.
Last year, the Bears signed a $197 million purchase agreement with Churchill Downs for of the former Arlington Park racecourse, and remain in negotiations on a contract for the site.
In addition to a new stadium, the $5 billion plan for the racetrack site would include parks, fitness centers, hotels, housing, and a sports book for starters. Mayor Lori Lightfoot and the city have fought to keep the Bears in Chicago. The city announced plans to renovate Soldier Field this past summer. But the odds that the Bears will go with the Arlington Heights option have kept growing more and more likely.
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