Arlington Heights village officials have proposed a compromise over the Chicago Bears’ property tax for a proposed domed stadium site in the suburb that would significantly cut the team’s tax bill.…
Crews demolish the grandstand and surrounding structures at the former Arlington International Racecourse in Arlington Heights on Sept. 25, 2023. Arlington Heights village officials have proposed a compromise over the Chicago Bears’ property tax for a proposed domed stadium site in the suburb that would significantly cut the team’s tax bill.
After that, the Bears and the school districts would agree to enter into good-faith negotiations over assessments, with increases guaranteed to be at least 3% but no more than 10% per year, according to the village proposal. Village Manager Randy Recklaus disclosed the proposal Monday night at the village board meeting. He also shared a slide that showed 2021 property tax bills at other developed sites, including $2.7 million for Wrigley Field, $6.1 million for the United Center, and $4.5 million for the vacant but built-out and comparably-sized Sears campus in Hoffman Estates.
A letter from Recklaus to the Bears and the school districts stated that tax discussions have come to a “standstill,” and pointed out that the Cook County Assessor valued similar properties at a fraction of the Bears’ assessment.Column: It’s easy to criticize Chicago Bears GM Ryan Poles for the meager return in the Justin Fields trade. But his hands were tied.Chicago Bears trade Justin Fields to the Pittsburgh Steelers, paving the way to draft a quarterback with the No.
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