ARLINGTON HEIGHTS (WBBM NEWSRADIO) - The Chicago Bears did not complete a Hail Mary pass in their efforts to lower property taxes on the former Arlington Heights racetrack where they could build their future stadium.
The Cook County Board of Review split on its vote, ruling the assessed value of the former Arlington Park property is $124.7 million.
That's much lower than the $160 million the local school districts wanted but also a lot higher than the $60 or 71 million appraisers for the Bears had suggested. This means the team can expect to receive a property tax bill for about $10 million in a few months.
The Bears' front office has not commented on the valuation, and they have a month to file an appeal, or they can sue.
The potential tax bill opened the door for the team to consider other locations for its future home.
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