South Side officials said they are in talks with an affiliate of the Chicago Bears to buy a new football stadium in the North Side.
The announcement came on the heels of a meeting between South Side Commissioner Dan Gilbert and Bears CEO Tom Lewand, according to a person familiar with the negotiations.
The person spoke on condition of anonymity because the negotiations are confidential.
A deal is expected to be announced this week.
Gilbert has been working with the Bears to get a new stadium for the team’s football program.
Lewand is the president of the Bears and the person with knowledge of the negotiations said there is no current agreement with South Side.
Lewan and Gilbert also have had discussions about a potential stadium in South Bend, Ind., and South Bend Mayor Pete Buttigieg is expected at the NFL combine in Indianapolis later this month.
The Chicago Tribune reported that the Bears are also interested in purchasing a new basketball arena.
A source close to the negotiations told the newspaper the Bears were looking to use the Northside as a test case for the new stadium.
The source said the city is “not going to go down that path of going through a process that’s not as public as it needs to be.”
South Side commissioners are in the process of revamping the school system, a process expected to begin by early 2020.
The mayor and others have made clear they want a new school to open on the North side of the street, while South Side residents are frustrated by what they see as slow progress on the new football facility.
The project would cost $3 billion.
A $250 million tax abatement would help pay for the project, according the Chicago Tribune.