The Bears announced Wednesday morning they have agreed to purchase the Arlington Park property in Arlington Heights, but stopped short of promising to build a new stadium there.
The purchase will take time to complete, similar to closing on a house, but Churchill Downs selected the Bears’ bid and is moving toward finalizing the sale.
“Finalizing the PSA was the critical next step in continuing our exploration of the property and its potential,” team president Ted Phillips said. “Much work remains to be completed, including working closely with the Village of Arlington Heights and surrounding communities, before we can close on this transaction.