In a large Dutch oven or heavy-bottomed pot over medium heat, cook the diced bacon until crispy. Remove bacon with a slotted spoon, transfer to a paper towel-lined plate, and set aside. Reserve about 1 tablespoon of bacon fat in the pot, discarding any excess.

Add the diced chicken to the pot with the reserved bacon fat. Cook over medium-high heat for 5-7 minutes, stirring occasionally, until browned on all sides and cooked through. Remove chicken from the pot and set aside with the bacon.

Add 1 tablespoon of olive oil to the pot (if needed). Add the diced onion, celery, and carrots. Sauté for 5-7 minutes until the vegetables soften. Add the minced garlic and cook for another 1 minute until fragrant.

Pour in the chicken broth. Add the diced potatoes, dried thyme, salt, and black pepper. Bring the mixture to a boil, then reduce heat to a simmer, cover, and cook for 15-20 minutes, or until the potatoes are fork-tender.

While potatoes cook, in a separate small saucepan, melt the butter over medium heat. Whisk in the flour and cook for 1-2 minutes, stirring constantly, to create a roux. Gradually whisk in the milk until smooth and thickened. This is your béchamel sauce.

Once potatoes are tender, stir the cooked chicken and about half of the cooked bacon (reserve the rest for garnish) back into the soup pot. Pour in the milk-flour mixture (béchamel) and stir well to combine.

Stir in the heavy cream. Continue to simmer gently for another 5-10 minutes, stirring occasionally, until the soup thickens to your desired consistency. Do not boil once cream is added.

Taste and adjust seasoning if needed. Ladle the hot Creamy Chicken Bacon Potato Soup into bowls. Garnish with fresh chopped parsley, reserved crumbled bacon, and shredded cheddar cheese.