Bears' Tax Appeal On Arlington Park Property Rejected: Report

ARLINGTON HEIGHTS, IL — A tax appeal made by the Chicago Bears regarding the value of the Arlington Park property was rejected Wednesday by the Cook County Board of Review. WMAQ-TV is reporting the team was informed that the value of the 326-acre site they own will remain at $192 million.

At a tax hearing in front of the board last month, attorneys representing the football team said the former horse racing track property should be valued at $60 million, while three Arlington Heights area school districts located nearby suggested it to be $160 million. With the two sides still $100 million apart, the CCBR said negotiations can continue through Saturday, when a period to accept a settlement officially closes.

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 in December.

Following that hearing, Commissioner Samantha Steele told Patch a final decision would be made by the end of February if an agreement can't be reached between the two sides.

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 and Waukegan.

Staying in Chicago, though, appears to have gained the most momentum in recent weeks. Earlier this month, Crain's Chicago Business reported the Bears have switched their focus for a new stadium from Arlington Heights to the Chicago lakefront. The report refers to "multiple sources in government and close to the team" telling the newspaper staying in Chicago is the "real goal," not just a negotiation tactic for better taxes on the former Arlington Park property in Arlington Heights.

The Bears have a lease at Soldier Field through 2033. Soldier Field, which opened in 1924, is the NFL's oldest stadium. The Bears began playing there in 1971 after leaving Wrigley Field. It has a football game capacity of 61,500 fans.

"The Bears are committed to being in Chicagoland," NFL Commissioner Roger Goodell said last week. "I talked to the Mayor of Chicago recently. He wants them in the city. Arlington wants it out in Arlington. I think they will be able to develop a proposal that will be good for the fans, but I think will also be great for Chicago."

RELATED:

• Chicago Could Host Super Bowl With Domed Stadium —NFL Commissioner
• Bears, School Districts Remain Apart On Arlington Park Value
• Arlington Heights Or Chicago, Warren Says Bears 'Have Good Choices'
• School Districts Value Arlington Park Property At $160M
• Bears Considering Soldier Field South Lot Property For Dome — Report
• Bears' Arlington Heights Development Plans 'At Risk', Team Says
• Property Tax Agreement Reached At Arlington Park: Board Of Review