The Chicago Bears are getting no tax relief for the Arlington Park valuation

The Chicago Bears are facing a tax issue in their plans for a new stadium in Arlington Heights. The property they purchased for $197.2 million has been valued at $192 million, resulting in a $15 million tax bill. The Bears have until Saturday to reach an agreement with three school districts for tax relief, but the initial decision is that they will not receive it. The Bears had presented appraisals of $60 million and $71 million, while the school districts valued the land at $160 million. There has been speculation about the Bears considering the Chicago lakefront as a stadium site instead. Bears president Kevin Warren expressed his fondness for Chicago and the lakefront, but the final decision on the stadium location is yet to be determined.

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