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DA BEARS SECURE OPTION TO BUY LAND IN DA 'BURBS
Published May 5, 1995
The Bears have secured an option to purchase a site in suburban Hoffman Estates that could be used to build a $285M stadium, according to the CHICAGO SUN-TIMES. The site, a gravel pit directly West of the new Sears Co. headquarters, would be available if Sears refuses an option to buy the land. The company is expected to decide what they will do within a month. Bears Owner Michael McCaskey said the site has many advantages, including its location in the Northwest suburbs, where many of the team's season ticket holders reside. However, the fact that McCaskey is seeking state-guaranteed bonds to finance two-thirds of the stadium cost could make a new stadium "a very difficult sell," according to a spokesperson for IL State Senate President James "Pate" Phillip (Fran Spielman, CHICAGO SUN-TIMES, 5/4).