Following months of stringent posturing that they were only focusing on a move to Hammond, Indiana for their next stadium site, the Chicago Bears may be staying in Illinois after all.

A report from Crain's Chicago Business reveals the team is 'close to a deal that would keep them in Illinois.'

The venue will 'most likely' be built on the former racetrack site at Arlington Heights that the team purchased for the purpose of a new stadium years ago.

As talks stalled on the Arlington Heights project, the team publicly declared their intentions to move to the Hammond site – located roughly 25 miles south of their current home of Soldier Field.

Now, the Illinois legislature could vote as soon as November on a bill to authorize the project to go ahead.

Under the new law, any municipality would be allowed to form an authority that would own and operate the stadium without needing to pay property taxes.

Meanwhile, taxpayers would only fund new roads and other infrastructure in and around the stadium site.

The report credits Bears minority owner Pat Ryan for help with getting a deal together, while majority owner George McCaskey and team president/CEO Kevin Warren took a backseat in negotiations. Commissioner Roger Goodell also got involved.

But in an address to the media on Thursday, team chairman George McCaskey said the team wouldn't be renamed the 'Hammond Bears' or the 'Indiana Bears' if they choose to move to the Hoosier State.

'No. We will be the Chicago Bears whether we're in Arlington or whether we're in Hammond,' McCaskey said.

Throughout the 107-year history of the team, the Bears have never played their home games outside of Illinois.

The Bears' current lease at Soldier Field expires in 2033.