Stadium Update: Where things stand with Arlington Heights.

Exactly

He has a rude awakening coming.  The city couldn't do this project right EVEN IF they had the money and they wanted to do it.  And they don't.

Warren is wasting his time.

And the new stadium they build downtown will be owned by the city so you know it will be half-ass and mismanaged.  Only reason I can think of why the McCs might want to do this is that they won't have to pay property tax.  Maybe they like being "renters".

The Chicago Bears have just as much upside as the Cowboys. Big city and market with only one team. Their ultra conservative approach keeps them from losing money but also keeps them from even being close to approaching their potential. Now, I personally believe that the reason is Virginia. She is very old and has lived through times in our history that makes her very risk averse. I saw it in my parents also. Don't dream too much just be happy with a nice inflow and don't mess with it. She basically calls the shots. But even while I say this, they bought the property and they had the vision for a bit facility. That happened while she is still alive, so that contradicts what I was saying.
I don't truly know. The things I can knit together (without knowing the underlying reasons), is 

1. They bought a large parcel of land with a vision for a multiple revenue streams that would feed the enterprise
2. Ted did not properly lock things up in terms of the tax commitments
3. The deal went south because of #2
4. Warren comes in and tries to replicate the downtown success he had with Minny (this last one I am not as sure of - he could still be playing AH for a better deal, but genuinely seems to want the lakefront)
5. They have not sold AH so they have not decided against it. Do not know if that is because they want it as a fallback in case the lakefront can't be done or if they are hoping for more concessions from AH before they move ahead.

In short, we have a few data points, but we have no idea what will ultimately happen.