Mary Beth Canty, an Arlington Heights Democrat. Marty Moylan, a Des Plaines Democrat, has local support from former village trustee and freshman Rep. The most recent measure, an amendment to an earlier proposal filed by Rep. In Springfield, lawmakers’ thoughts have moved on from a quartet of proposals geared toward providing the team with economic assistance to move from Chicago’s Soldier Field to Arlington Heights. The school districts have suggested the team settle on a land value of $95 million, which team President Kevin Warren called a “nonstarter.” Meanwhile, the school districts and the team have been locked in a standoff regarding how much the team should pay in property taxes. The Bears could still appeal the property tax evaluation for next year or the year after, which could bring down their property tax bill in the future. Though Churchill Downs will be on the hook for that payment, the evaluation up for argument at the hearing will also determine the next two years’ worth of property tax bills the team pays to Cook County. The team is currently fighting a wide-ranging property tax battle with three school districts whose finances could take a hit from property tax breaks meant to help the team develop the site.Ī hearing at the Cook County Board of Review on the most recent property tax assessment is set for June 2. The land sale officially closed in February 2023, more than a year after the team agreed to purchase it from former owner and operator Churchill Downs, Inc. The Bears released proposed development plans for the Arlington International Racecourse property in Arlington Heights on Sept. A rendering released by the Chicago Bears shows the view from the threshold of the proposed stadium of the Arlington Park entertainment district. Steve Daniels is a senior reporter for Crain's Chicago Business covering all things financial services, including banking, private equity and insurance, as well as energy and utilities.
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