The Wolf Lake area in Hammond, Indiana—just 22 miles from downtown Chicago—emerges as the leading candidate for the Bears' new $2 billion stadium [citation:3][citation:10].

The Chicago Bears' 105-year history in Illinois hangs by a thread today. In a dramatic series of events on February 19, 2026, Indiana lawmakers unanimously advanced Senate Bill 27, creating the framework for a state-owned $2 billion stadium near Wolf Lake in Hammond, Indiana—while an Illinois hearing on competing tax incentives was abruptly canceled [citation:3][citation:5].

The Bears' Official Statement

In an unprecedented move, the Chicago Bears released a statement during Thursday morning's Indiana House Ways and Means Committee hearing, calling the Indiana progress "the most meaningful step forward in our stadium planning efforts to date" [citation:2][citation:4].

Indiana's Aggressive Play

Indiana Governor Mike Braun has made no secret of his desire to land the franchise. Taking to social media Thursday morning, Braun declared Indiana "open for business" and outlined the state's rapid progress [citation:2][citation:8].

"The State of Indiana moves at the speed of business, and we've demonstrated that through our quick coordination between state agencies, local government, and the legislature to set the stage for a huge win for all Hoosiers," Braun wrote [citation:2]. "We have built a strong relationship with the Bears organization that will serve as the foundation for a public-private partnership, leading to the construction of a world-class stadium and a win for taxpayers."

The Hammond Site: Wolf Lake

The proposed stadium would be built on lakefront property spanning thousands of acres near Wolf Lake in Hammond, located just steps from the Chicago border and about 22 miles from downtown Chicago [citation:3]. The site currently includes a concert pavilion, golf course, and driving range.

Hammond Mayor Tom McDermott Jr. has been a vocal advocate, citing business advantages over Illinois. "For the Bears as a business, it gives them all the advantages of being an Indiana business. Lower liability rates for your employees. I mean obviously a better business environment in general," McDermott told FOX 32 Chicago [citation:3].

How the Deal Would Work

Senate Bill 27 would establish the Northwest Indiana Stadium Authority with power to acquire land and finance construction [citation:4][citation:9]. The financing model draws from the 2005 Indianapolis Colts stadium law that built Lucas Oil Stadium, using regional taxes [citation:4][citation:9]:

• Bears commitment: $2 billion toward construction [citation:6][citation:10]
• Food and beverage tax: 1% in Lake and Porter counties [citation:10]
• Innkeepers tax: 5% in Lake County [citation:10]
• Admissions tax: 12% on large Hammond events [citation:10]
• Toll road revenue: Supporting infrastructure [citation:6]

What About the Colts?

Indianapolis Colts fans wondering about an in-state rival need not worry. The proposed Hammond site is already considered Bears territory under NFL marketing rules, falling within a 75-mile radius of downtown Chicago [citation:1]. The Colts do not actively market in northwest Indiana and have publicly stated they "wish the Bears all the best" [citation:1].

"If they were talking about relocating deeper into the state, we might feel differently—but they're clearly talking about the Chicago suburbs," Colts COO Pete Ward told IndyStar in January [citation:1].

Illinois: What Went Wrong?

Back in Illinois, a hearing had been scheduled for Thursday morning on a proposal to offer the Bears tax incentives and infrastructure support for a potential new stadium in Arlington Heights—where the team owns 326 acres of former racetrack property [citation:5][citation:9]. That hearing was canceled with no explanation [citation:5][citation:7].

The Illinois proposal would have frozen the Bears' property tax assessment for up to 40 years and provided more than $850 million in infrastructure support [citation:5]. But with Indiana moving at "the speed of business," Illinois appears to have lost momentum at the worst possible moment.

What Happens Next

Senate Bill 27 now moves to the full Indiana House for a vote, with the legislative session scheduled to end February 27, 2026—leaving just over one week for final approval [citation:6]. If passed, the bill would go to Governor Braun's desk for signature.

But hurdles remain. "Due diligence" on the Wolf Lake site must proceed smoothly, and local governments must pass the various tax measures [citation:10]. The Bears have stopped short of a full commitment, but Thursday's statement represents their strongest language yet.

Meanwhile, all eyes are on Illinois. Will Springfield scramble to revive negotiations, or will the Bears become Indiana's second NFL team? The next week will decide the fate of a franchise that's called Chicago home since 1920.

About the Analyst

Marjorie is a senior sports business analyst at Qalamkaar with 12+ years of experience covering NFL franchise movements, stadium financing, and league politics. Her reporting emphasizes E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness) standards, combining on-the-ground sourcing with financial analysis of major sports infrastructure deals.