Stadium Update: Where things stand with Arlington Heights.

I do agree.  It's just weird how this thing was sounding like a done deal for Arlington Heights, and then it wasn't.  I may have this wrong, but as I follow the AH tax thing, there isn't really a problem now.  Yes, the family will have to pay some taxes.  But it sounds like it is nothing out of the ordinary at this point.  Building a sports campus in AH will add some costs to that city, and yes, the family should have to pay their fair share of taxes.  If the family was not prepared to do that when they purchased the property, then that seems like the McCaskeys dropped the ball there.  

But I totally agree the family has final say on all of this.  Maybe they should just keep things "as is" if they're not up to developing their property.  Just keep renting space from the Park District at Soldier Field.  Chicago sure shouldn't be building anything downtown for the family.  Chicago can't pay its own bills now - for stuff that is far more important than a stadium build for the McCaskeys.

Some Random Thoughts About The Stadium:

1) If Warren is smart he is going to say a mix of truth and lies for negotiating purposes. I do not believe anything he says and that's not meant to insult him. Once the Bears broke ground at Arlington Heights, in my mind, they committed to building SOMETHING there.

2) Arlington Heights is an unprecedented opportunity which makes the Bears not only a national attraction for football fans everywhere, but it puts Chicago on the map for world class events. We would then have multiple facilities to host events that require them such as the World Cup and the Olympics. The new stadium would also command Super Bowls. Not to mention numerous misc events like concerts, fights, etc.

3) The government of Arlington Heights royally screwed up and overplayed their hand. As soon as the Bears tore down the old racetrack the village had it's hand out. Whether they are right or wrong to do so is not my point. My point is that this is not how you build a relationship because it scares the McCaskeys. If AH is like this now, then what other taxes, fees, and permits are going to crop up once the Bears start building the stadium and then implement Bears Land with the hotels, restaurants, etc.

4) Money is not going to be an issue. I do not want the State Of Illinois involved in the financing at all. They do not deserve the credit, or future cash flows, from this project. I would prefer a group of investors partnering with the McCaskeys to build out Arlington Heights. The project would get done much more efficiently and then the McCaskeys and the investors are free to manage Bears Land as they see fit.

5) As a fan, I want the stadium built in Arlington Heights. I absolutely hate the City Of Chicago. I find it to be an unclean, crime filled hellhole and under no circumstances would I go there unless I absolutely have to. AH is the perfect location surrounded by expressways and hotels. It's a no brainer to build the stadium there.

6) If I were the McCaskeys I can see the appeal of building the stadium in Chicago, putting the city on the hook for a chunk of it, and building out Arlington Heights anyway with a combination of housing, hotels, restaurants, etc. Maybe a casino? IDK. But it's a good way to diversify the family fortune and increase their net worth.

That makes the most sense to me.  I know it's a big project for a family to take on.  I was thinking that Warren as project manager could assemble a small team of professionals to help the family develop the property.  The stadium project could take on a small group of investors if that helps the cash flow.  But the greater property development will probably be ongoing for a number of years - and that's a good thing.  It's not like everything (surrounding the stadium) has to be developed immediately and quickly.  Some stuff probably will be developed in the first phase.  But holy cow what a cash flow for the family as they sell these parcels over time (hotels, restaurants, businesses and attractions that will complement a state-of-the-art sports campus area like this).  Every year the family will close on these commercial parcels that will be selling those properties by the commercial square foot.  Talk about a cash cow for the McCaskeys, this would set up the future generations of that family for the next 50+ years.  But yes, they will (hopefully) have a great commercial real estate firm, engineering firm, legal firm etc. helping them through the process over the years.  

That is a huge commercial property that should be a gold mine for the family.  And hey, the fam can afford to pay their fair share of taxes.  It will be pocket lint and chump change compared with the big money rolling in for many many years to come.  No, it won't be like renting the weed patch at the old Michael Reese abandoned site on the Southside of Chicago... but who would WANT to partner - on a rental basis - from the City of Chicago?  Yikes, what a nightmare that would be.  

The quicker the family cuts the bull crap with the weedpatch, the quicker than CAN get shovels in the ground and begin mining the gold in Arlington Heights.  

I just keep thinking that the family will do something relatively soon due to the fact time really is money here.  That land is just sitting there until it is developed.  What a waste.  There is a river of $$$ to tap into there.  I'll bet we have a final definitive answer within 3 or 4 months, and then it will be full-speed ahead development.  And that's when Kevin Warren will be a valuable asset.