Why Arlington_Park grandstand's days could be numbered, E0Sullivan says, as the ChicagoBears seek a big tax break for their new property
Ed Sullivan, a former Republican state representative from Mundelein and former Fremont Township assessor, said it only makes financial sense that the Bears would tear down the six-story grandstand, as the NFL franchise seeks a massive property tax break from state legislators.
Properties that sit vacant and aren't producing income -- the last horse race at Arlington was in September 2021 -- can have a reduced assessed value. That value can be reduced even more"by just bringing it to vacant land," said Sullivan, who was the elected Fremont Township assessor from 1993 to 2017 and the 51st state House District rep from 2003 to 2017.
by signing up you agree to our terms of service The arrangement could last up to 40 years.
The Bears closed the $197.2 million purchase of the 326-acre shuttered racetrack from Churchill Downs Inc. Feb. 15, just as the first installment of 2022 Cook County property tax bills came out. Online electronic checks totaling more than $1.5 million for the Arlington Heights property's five tax parcels were paid last Monday by the Bears, according to Cook County treasurer's office records obtained by the Daily Herald.
"If condos or townhomes or some type of residential development is built with this, you don't want that assessed value frozen," Sullivan said of the school districts."That's how they're going to make the money to take care of these kids."
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Brahmas looking to rebound in rematch with Arlington RenegadesSitting 1-4 and nursing an array of injuries, the San Antonio Brahmas hope to find an offensive spark to trigger a second-half resurgence.
Consulte Mais informação »
Wife, cousin of ringleader who buried kilos of drugs on Arlington property sentencedThe wife and cousin of a drug trafficking ringleader who buried drugs and cash on rural property near Arlington were sentenced to prison in U.S. District Court in Seattle on Tuesday.
Consulte Mais informação »
Brahmas ride defense to needed win against Arlington RenegadesA defensive touchdown provided a lift to a sputtering offense, keeping the San Antonio Brahmas alive in the playoff race in the XFL South division.
Consulte Mais informação »
Chicago Decides: Small business owner Megan Mathias faces Ald. James Gardiner in 45th WardWe reached out to incumbent Gardiner, who has not responded to our requests for an interview.
Consulte Mais informação »
Debut album 'Motion and Picture' from Chicago band MIIRRORS a reflection of the times'Motion and Picture,' the newly minted debut album from Chicago's MIIRRORS, first drifts onto the soundscape like a ghost, but it clearly defines the power behind this aesthetically mysterious rock group.
Consulte Mais informação »
Man seriously hurt in shooting on Chicago's North SideA 57-year-old man was seriously wounded in a shooting in Chicago's Rogers Park neighborhood Saturday morning.
Consulte Mais informação »