Bears Reach Arlington Park Tax Deal, Chicago Stadium Remains Focus

ARLINGTON HEIGHTS, IL — While building a multi-billion dollar stadium along Chicago's lakefront remains the team's priority, Chicago Bears officials announced Monday they have reached an agreement over property taxes at the former Arlington International Racecourse property.

"The Chicago Bears remain focused on investing over $2 billion to build a publicly owned enclosed stadium on Chicago's lakefront, while reevaluating the feasibility of a development in Bronzeville," the team said in a statement shared with Patch. "That being said, we remain significant landowners in Arlington Heights and establishing a framework for potential future development planning, financing and property tax certainty has been a priority since the land was purchased."

In May, the Bears unveiled plans for a publicly-owned, domed stadium on the Museum Campus in Chicago. The entire stadium project, which would be built near the current site of Solider Field, is estimated to cost $4.6 billion, including $3.2 billion for the stadium itself.

In February 2023, the Bears closed on a $197.2 million property agreement to buy the Arlington Park property that housed the former racetrack, which has since been demolished.

At a tax hearing in front of the board in January, the football team and three Arlington Heights area school districts located nearby were $100 million apart in their assessments of the property's value. The three school districts — Community Consolidated School District 15 (based in Palatine), High School District 211 (based in Palatine), and High School District 214 (based in Arlington Heights) — valued the property at $160 million, the same appraisal they had in December 2023.

In February of this year, the Cook County Board of Review ruled that the 326-acre site is worth $125 million, which is $30 million more than the team's original assessment of the property ($95 million) and $65 million over what the Bears recently said Arlington is worth ($60 million).

"We continue to have productive conversations with the village and school districts and are aligned on a framework should we choose to explore a potential development," the Bears said Monday.

The Memorandum of Understanding agreed upon needs to be approved by the village and local school board, which could happen next month, as reported by Chicago Tribune. The news outlet also said an agreement by all sides "does not guarantee the team will build a stadium there [Arlington Heights], but it does shift some momentum back toward the suburban site."

Last month, Chicago Bears President Kevin Warren said the team has set a goal of breaking ground on a stadium near Solider Field in 2025. The team is also reportedly looking at land once occupied by Michael Reese Hospital in Bronzeville near Lake Michigan as a potential future home.

RELATED:

• Bears Hope To Break Ground On Chicago Stadium Next Year — President
• Bears Stadium Funding In Chicago 'Near Impossible' This Year — Pritzker
• Gov Calls Bears' Stadium Project 'Non-Starter' For IL — Spokesperson
• 'Pivotal' Moment — Bears Unveil $4.6B Domed Stadium Plan For Chicago
• Bears Announce Lakefront Stadium Plans, Pledge $2B Contribution
• Board Raises Bears' Tax Assessment For Arlington Property By $30M
• Bears' Tax Appeal On Arlington Park Property Rejected — Report