Chicago Bears' Purchase of Arlington Park Spurs Tax Deal and Demolition
TL;DR
Churchill Downs, the previous owners of Arlington Park, will pay just under $7.8 million in property taxes after a tax agreement was reached with local taxing bodies. The Bears, who bought the property for $197.2 million, will be responsible for paying the 2023 taxes. The value of the property was set at $95 million after Churchill Downs requested a market value of just over $37.3 million. The Bears will look for a property tax reduction for 2023, as they plan to demolish old buildings and develop the land for their own purposes.
- Arlington Park tax deal reached after Bears purchase property NBC Sports
- Tax deal set on Bears' Arlington Heights property Crain's Chicago Business
- Demolition begins at Arlington Park race track after Chicago Bears' indoor permit approved WLS-TV
- As Bears begin demolition at Arlington race track, Mayor Johnson must focus on Soldier Field's future Chicago Sun-Times
- Arlington Park track's property tax bill cut by half Chicago Sun-Times
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on NBC Sports