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.
“[It’s] the critical next step in continuing our exploration of the property and its potential,” team president Ted Phillips said in a statement. “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.