Arlington Heights, IL – The Village of Arlington Heights has released new details this week regarding the proposed redevelopment of the former Arlington International Racecourse property into a Chicago Bears–anchored stadium and mixed-use district.
According to village officials, a preliminary Economic Impact Report submitted by the Chicago Bears Football Club indicates the project could create thousands of jobs and generate substantial new tax revenue for Arlington Heights, Cook County, and the State of Illinois. The report was also peer-reviewed by independent consultant Hunden Partners to ensure accuracy and transparency.
Village leaders noted that while the project is still in early stages, both reports suggest the 326-acre redevelopment has significant potential to drive regional economic growth. “This is an important step as we continue to evaluate the possibilities of our partnership with the Chicago Bears Football Club,” Mayor Jim Tinaglia said in a statement.
The redevelopment plan also includes a short-term property tax settlement agreement, which locks in a $125 million valuation on the property through 2027 unless major milestones are met. Protections are also outlined to prevent school districts from facing unexpected financial burdens tied to the stadium and surrounding developments.
Public review will continue in the coming months, with multiple school boards and the Village Board set to discuss the Memorandum of Understanding in early December. Residents can view the full reports and related documents at www.vah.com/arlingtonpark.
This article was produced by a journalist and may include AI-assisted input. All content is reviewed for accuracy and fairness.
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