Bears, suburban school districts $100M apart in valuations of Arlington Heights site ...Middle East

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Bears, suburban school districts $100M apart in valuations of Arlington Heights site
source : NBC Chicago ( Middle East ) () 18
Negotiations over the Chicago Bears’ property tax bill are ongoing, with the fate of an Arlington Heights stadium development in the balance as the team and the surrounding school districts remain $100 million apart in their valuations of the site, according to testimony at a hearing on the dispute Tuesday. The team’s attorney argued at a Cook County Board of Review hearing that the property should be valued at $60 million and taxed at the 10% rate for residential and vacant land, due to the work done to demolish the existing structures on the site, versus the 25% tax rate for commercial properties. The Bears’ lawyer said the team submitted two appraisals of the site, one for $60 mill

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