After meeting with the mayor Naperville the Chicago Bears announced that they could abandon their plans in Arlington Heights for a new stadium and land option in Naperville.
The Chicago Bears announced that they had a meeting with Naperville mayor Scott Wehrli on a possible secondary option to build a new stadium and entertainment district way out in the far Southwest Chicagoland suburb.
Bears officials met with Naperville Mayor Scott Wehrli today to discuss the possibility of abandoning their stadium plans in Arlington Heights.
Plans to build “the largest single development project in Illinois history” are “at risk,” the team said.https://t.co/4CynF7mpiB
— Chicago Tribune Sports (@ChicagoSports) June 2, 2023
Currently the Chicago Bears are beginning the process of demolishing the racecourse at Arlington Heights after closing on the purchase price of the land earlier this year. Now the Chicago Bears are in a property tax dispute with the village and the commercial viability of the property as it is being renovated for a future Chicago Bears stadium.
“The Cook County Assessor’s property assessment of the former horsetrack, which is five times the 2021 tax value and three times higher than the recent assessment settlement for the Churchill Downs racetrack in Kentucky, fails to reflect that the property is not operational and not commercially viable in its current state, the statement said.”
As always with these billionaires they’re looking to save a couple million in property taxes, but what is the viability of them leaving Arlington Heights after closing on the property at a cost of $197.2-million. Are the Bears going to sell that property as a potential loss just to save a few million in property taxes?
It seems highly unlikely that the Bears are seriously reconsidering something that’s been in the works for the last two years. We’ll see if the staredown over taxes that should go to supporting the schools within Arlington Heights will cause the village board to blink.
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