Chicago Bears, Arlington Heights officials reach tentative agreement over property tax dispute
ARLINGTON HEIGHTS, Ill. – The Chicago Bears are keeping plans for an Arlington Heights stadium alive as a dispute over property taxes for the 326-acre Arlington Park property has been temporarily resolved, according to multiple reports.
Officials with the Bears and the Village of Arlington Heights reportedly confirmed they’ve reached a “memorandum of understanding” for how property taxes and other development and financing details would look if the Bears ultimately decide to move forward with a $5 billion stadium and entertainment district at the site of the former Arlington International Racecourse.
The Arlington Heights deal has not yet been signed, however, and needs to earn positive votes from the Arlington Heights Elected Village Board and school boards in Northwest Suburban High School District 214, Palatine-Schaumburg High School District 211 and Palatine Township Elementary District 15.
Despite this news, the Bears’ first choice is to remain in Chicago and build an enclosed stadium on the lakefront, according to team officials.
“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,” officials said in a statement. “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. 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.”
Nonetheless, Monday’s agreement appears to have temporarily stopped an ongoing dispute between the Bears an Arlington Heights officials over the value of the 326-acre property the Bears purchased in early 2023 for $197 million, and how property taxes might be structured should the Bears build their new stadium there.
The Bears also had struggled to reach an agreement with the three Arlington Heights-area school districts previously mentioned, which was a big reason why the franchise shifted their focus to building a new stadium on Chicago’s lakefront just south of where Soldier Field currently sits.
In April, the team unveiled plans for the new lakefront stadium.
A spokesperson for Arlington Heights and the three school districts issued a separate statement Monday.
“We continue to believe Arlington Heights remains an incredible opportunity, and we have a common understanding with the team on how to create a framework for potential development, financing and property tax certainty in Arlington Heights that works for all parties. We look forward to future conversations.”
Arlington Heights Mayor Tom Hayes told WGN News he is “encouraged about the significant progress” that has been made.
Previously, the Bears and the school districts were not close to a compromise on the value of the Arlington International Racecourse, which Cook County assessors estimated to be $192 million. The Bears later submitted an appeal to the Cook County Board of Review, estimating the site is worth $60 million, which was well below the school districts’ estimate of $160 million, according to reports.
Elected officials eventually landed on $125 million in February, a result the Bears were not satisfied with.
Reports said the team then reached out to the Illinois Property Tax Appeal Board to review the assessed value. That process is still pending and may not be finalized for a year or longer.
