CHICAGO – New information emerged in Arlington Heights Monday night as the Chicago Bears may be changing their approach to constructing a new stadium.
The key point is that Arlington Heights has yet to find a resolution for the tax bill concerning the Bears, residents and school board.
“In early 2023, before the final purchase of the property, there were discussions between school districts 214, 211 and 15, Churchill Downs and the Chicago Bears football club regarding the termination of fair property taxes for the former Arlington Park site. In spring of 2023, after the sale, discussions between the club and school districts broke down,” said Arlington Heights Village Manager Randall Recklaus.
The village remains optimistic, stating that it doesn’t believe the Bears staying in Chicago is a done deal.
Arlington Heights officials spoke with the Bears last week and were told the plans for the property haven’t changed for a stadium and mix–used entertainment at the old Arlington Park race track, but the focus is on the sites in Chicago.
Information on property taxes is being released to the public after a freedom of information request by the media, which will include discussions between the village and the Bears about fair property taxes.
With the track vacant, the property was assessed at $16 million for taxes. The Bears had the taxes reviewed and they came down to almost $9 million.
The village came back with this proposal over the course of four years with a lower and gradual tax model that the village calls sensible while the property is still vacant.
One resident asked what happens if the Bears never occupy the space?
“As long as we‘re collecting a reasonable amount of property taxes, it won’t impact the village’s budget. Now, obviously, a fully-developed version of that site would have a significant positive impact on the village’s budget,” said Recklaus.
The talks may have broken down between Arlington Heights and the Bears, but village officials remain optimistic.