Note: The player video above is from an earlier report.
On Friday, the Chicago Bears’ $5 billion new stadium construction at Arlington Park came close to reality after the village of Arlington Heights agreed to the early stages of a demolition plan.
village Posted It announced on its website on Friday that the first phase of the project had been approved. This will allow the demolition of the interior, specifically the grandstand, offices and jockey buildings. Village officials said construction work is expected to begin soon, which could increase truck traffic in the area.
Arlington Heights Mayor Tom Hayes said earlier this month that the village received many questions about the team’s request for the demolition work to take place, and said the village committee did not have the authority to approve or deny the request at the time. reported. Tribune. Interior work is expected to begin soon, and both the village and Cook County will review and approve applications for demolition of the exterior building.
On May 3, the Bears filed paperwork in hopes of landing approval to begin demolition. chicago tribune Previously reported. A possible move to Arlington Heights has become a little more complicated in recent weeks, as Cook County Assessors have raised the value of the team’s newly acquired land, but this could mean a significant increase in property tax bills. This means that it is likely to increase.
In February, the team completed the purchase of the 326-acre site of the former Arlington International Racecourse, paying $197.2 million for the land. It was previously valued at approximately $33 million, but as part of its triennial revaluation, Assessor Fritz Kaegi’s office put his valuation at $197 million. The increase will also result in a proportionate increase in property tax bills, which could jump sixfold.
The Bears are asking the review board to reassess property taxes. A hearing on the matter is scheduled for June.