The Chicago Bears are exploring additional options for a suburban stadium after tax issues in Arlington Heights that could result in the collapse of the proposed stadium at former Arlington Park.
In a statement to NBC Chicago, the Bears said while they’re still working at the Arlington Heights location, “it’s no longer our sole focus.”
“The Chicago Bears’ goal of building the largest single development project in Illinois history, fueled by billions of dollars in private equity investment, and the resulting jobs and economic benefits are at risk at Arlington Heights,” the team’s statement said . “The Stadium- The project based on this project continues to enjoy great popularity in Arlington Heights, Chicagoland and the state. However, the original valuation of the property at five times its 2021 taxable value and the recent tripling achieved with Churchill Downs for 2022 does not reflect that the property is neither operational nor economically viable in its current condition. We will continue the ongoing demolition work and work towards a way forward in Arlington Heights, but that is no longer our sole focus. It is our responsibility to listen to other Chicagoland communities to identify potential sites that can capitalize on this transformative opportunity for our fans, our club and the state of Illinois.”
A Naperville spokesman also confirmed that Mayor Scott Wehrli “reached out to the Chicago Bears organization to present it as a thriving community with ample opportunities for business investment.”
“With economic development being one of his primary areas of focus, the mayor will continue to highlight the benefits of Naperville to businesses throughout Chicago and across the country,” spokeswoman Linda LaCloche said in a statement. “Those advantages also include the fact that Naperville has the second-largest economy in Illinois.” With a well-educated workforce, world-class public safety, a vibrant downtown area, excellent public transportation and proximity to major freeways, it is an attractive community for all types of business investments. ”
In a letter to Kevin Warren, President and CEO of the Bears last week, Wehrli emphasized the accessibility of the community and said that several locations are already available or will be available soon for the Bears’ future home.
“As a lifelong Bears fan, I respect the team’s decision that developing and operating their own stadium is vital to success on the field and the pursuit of championships,” the letter read. “On behalf of the City of Naperville, as you consider or reevaluate your proposed move, I would like to formally introduce your organization to our community. The City would appreciate the opportunity to review your business needs and our available properties.”
The team was recently approved to begin phase one of the Arlington Heights demolition plans.
The village announced on its website last month that permission had been granted for Phase 1 of the project, which will allow for the demolition of the interior spaces, specifically the demolition of the grandstand, offices and jockey building.
The village of Arlington Heights released a statement Friday after the team said it was exploring other possible locations.
“…The Village has always expected the club to explore all possible locations as part of its due diligence process,” the statement said in part.
The village also noted the advantages of Arlington Park’s location, such as its own Metra station and easy access to O’Hare Airport, Interstate 90 and Route 53.
“It is clear that the Chicago Bears Football Club understands the unique potential of this location, as demonstrated by the recent purchase of the property,” the statement continued. “The Village is committed to working with the club and all other regional stakeholders to further explore the potential redevelopment of this site and address the inevitable challenges that accompany any major development effort.”
In recent weeks, the potential move to Arlington Heights has become a little more complicated after the Cook County Assessor raised the estimated value of the team’s newly acquired property, meaning their property tax bill could be headed for a significant increase.
The team completed the purchase of the 326-acre site that housed the former Arlington International Racecourse in February, paying $197.2 million for the property. The previously estimated value was about $33 million, but as part of the triennial revaluation, appraiser Fritz Kaegi’s office put the value at $197 million. This increase could increase the property tax burden proportionately, a potential six-fold increase.
The Bears are asking the Board of Review to reassess the property’s tax value. A hearing on this issue is expected to take place in June.
“Our office’s job is to appraise properties based on market value,” a spokesman for the Office of the Cook County Assessor said Friday. “The 2022 valuation of the former Arlington Racecourse site is consistent with both the property’s 2023 purchase price and the price per square foot of other similarly sized properties in the area. The facts speak for themselves.”