Workers gather in a parking lot outside of the former Arlington Park to begin demolition on May 30, 2023, in Arlington Heights. (Stacey Wescott/Chicago Tribune)
Workers began demolition Tuesday on the inside of the former Arlington International Racecourse, another nail in the coffin of the storied horse track, and a step toward a potential new stadium for the Chicago Bears.
A backhoe, other heavy construction equipment and workers were seen outside the grand edifice, which won architectural honors and held up to 32,000 fans for nationally known races before being closed by Churchill Downs Inc. in 2021.
Team officials emphasized that they still can’t proceed with their plans for a $5 billion enclosed stadium, housing and entertainment complex until they nail down what the property taxes would be, and get public financing for supporting infrastructure.
The demolition, estimated to cost $3.8 million, would be expected to lower the value of the property for the next tax year, which should lower taxes on the site — a subject of contention between the team and school districts that get most of the tax revenue.
Prior to the demolition, the Cook County assessor’s office recently increased the property’s valuation to $197 million, about equal to the sale price the team paid to buy the 326-acre site earlier this year. That would raise taxes on the site to about $16 million, from less than $3 million when it operated as a racetrack.
Read more here.
Related: “Bears get OK to begin teardowns inside Arlington racetrack structures in preparation for new stadium”
Leave a Reply