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Chicago & Midwest  + Greater Chicagoland  + Retail  | 
Arlington Park Arlington Heights IL sale to Chicago Bears Churchill Downs

Chicago Bears Sign Purchase Agreement for Arlington Park; Lightfoot “Committed” to Keeping the Team

The Chicago Bears said Wednesday they had signed a purchase and sale agreement with Churchill Downs Inc. for Arlington Park in Arlington Heights, IL, at a reported price of $197 million. However, the NFL franchise stopped short of committing to moving out of Soldier Field on Chicago’s South Side. 

“Our goal is to chart a path forward that allows our team to thrive on the field, Chicagoland to prosper from this endeavor, and the Bears organization to be ensured a strong future,” said Bears CEO Ted Phillips. We will never stop working toward delivering Bears fans the very best experience. We will continue to provide updates on our progress at the appropriate time.” 

Following the Bears’ announcement, Chicago Mayor Lori Lightfoot tweeted, “My administration remains committed to continuing the work to keep the team in Chicago. As I have said numerous times, our door in City Hall remains open.” 

Photo courtesy of Churchill Downs.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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