Bears, School Districts Remain Apart On Arlington Park Value

ARLINGTON HEIGHTS, IL — It appears the Chicago Bears and several Arlington Heights area school districts remain divided on the value of the Arlington Park property.

At a Tuesday tax hearing in front of the Cook County Board of Review, attorneys representing the football team said the former horse racing track should be valued at $60 million, while the school districts are suggesting it to be $160 million.

The three Arlington Heights area 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)— had the same appraisal last month.

Commissioner Samantha Steele, who said both sides made "compelling arguments," told Patch a final decision would be made by the end of February by the Cook County Board if an agreement can't be reached between the two sides. She is encouraging the parties to negotiate a deal.

The Bears purchased the 309-acre property for $196 million in February 2023. The Cook County Assessor assessed its 2023 fair market value at $192 million in June of last year. While the team continues to explore the idea of building a new stadium and entertainment district in Arlington Heights, it has also considered other future home options including Naperville, Aurora, Waukegan. Staying in Chicago also remains on the table.

"I am focused on making sure that we build the most progressive, smartly priced, on-time, under-budget stadium development project that's ever been built in the National Football League," Kevin Warren, president and CEO of the Bears, said at an end-of-season news conference earlier this month. "So that's what we're focused on every single day."

The Cook County Board of Review announced in November that a property tax agreement had been reached between the owners of the site and the local school districts. The new agreement set the value of the property at $95 million. The original assessment of Arlington Park was five times the 2021 tax value, and a settlement with former property owners Churchill Downs for 2022 was three times higher.

Steele said her staff is currently analyzing the evidence submitted by the Bears and the school districts, but she is concerned over the Cook County Assessor's "significant increase "in land valuation, soaring by 542.5 percent from the previous year.

For the 2022 tax year, the Bears' Arlington Heights property was assessed at $29,373,112. In 2023, the Cook County Assessor assessed the land at $188,634,764, shifting the property's value from the now-demolished racetrack to the land, according to Steele. For 2023, the Assessor determined the assessed value of the property $192 million, up from the $95 million that was agreed in the previous year by the previous owner and the local school districts.

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