After securing the space in February, the Bears are moving forward on their Arlington plans and have filed paperwork with hopes of getting the green light to begin demolition at Arlington Park. The new paperwork has revealed the total cost of demolition, which sits at $3.8 million.
As the Chicago Bears closed on the purchase of the Arlington International Racecourse, in February, they’re making the eventual move all but official.
The project, which would include gutting the existing interior, will be built on Arlington International Racecourse, a former historic race track that’s been around since 1927.
The two permits, which were submitted earlier this month for the tear-down of the grandstand, and for the demolition of an entire other building, are all but approved.
There is still work to be done on stadium plans, with officials noting ‘due diligence’ is required to see if an enclosed dome and stadium are ‘feasible’ ideas to move ahead with. While the Bears agreed on purchasing the site last fall, there’s still a lot to be done on the 326-acre plot in Arlington, like exterior demolitions.
Property value is expected to increase, with the Cook County Assessor hiking the assessed value of the former racetrack, moving the assessment from $3M to $16M.
The Bears have also asked the Board of Review to reassess the tax value of the Arlington Park property. Now, a hearing should take place in June to discuss this request. Tearing down the property would cut maintenance costs and reduce tax costs.
Those in charge have plans to build a community park, walking paths, hotels, and more, officials involved want to make the new Arlington Heights stadium an entertainment and community hub.
Their lease on Soldier Field does run to 2033 with the team saying they’ll honor the terms– but that doesn’t mean they can’t buy themselves out early.
As for the other side, the city of Chicago had done a lot to sway the team to stay at Soldier Field, with promises that includestadium renovations, a new roof, and larger seating capacity, amidst other revamps like expanded transit. . While the Bears start construction at Arlington, Soldier Field seems to be a less likely option.