(WBBM NEWSRADIO) — The Chicago Bears have tentatively reached an agreement with Arlington Heights over the property taxes for the former Arlington Park racetrack.
In a statement provided to WBBM Newsradio about the tentative agreement, Bears officials said they “continue to have productive conversations with the village and school districts and are aligned on a framework should we choose to explore a potential development.”
“We remain significant landowners in Arlington Heights, and establishing a framework for potential future development planning, financing and property tax certainty has been a priority since the land was purchased,” the statement read.
The exact details of the deal weren’t immediately clear, and any deal would still need approval from the Arlington Heights village board and three local education boards.
News of the tentative agreement came almost two weeks after it was first reported that the Bears were considering the Michael Reese hospital site in the city’s Bronzeville neighborhood on the South Side.
The team has, so far, failed to land its requested public funding for a new, $4.7 billion stadium just south of Soldier Field.
In the Bears’ statement, the organization maintained that its focus is on building a “publicly owned, enclosed stadium on Chicago’s lakefront while re-evaluating the feasibility of a development in Bronzeville.”
Listen to WBBM Newsradio now on Audacy!
Sign up and follow WBBM Newsradio
Facebook | Twitter | Instagram | TikTok