In 2022, the old Arlington Park racetrack site was pitched as a 326-acre stadium and entertainment district, with home values around it rising to match. By August 2026, Chicago Bears president Kevin Warren was telling reporters the team's "sole focus" was a stadium in Hammond, Indiana, not Illinois. Chairman George McCaskey described the team's communication with state officials here as "minimal."
The land itself didn't get a construction permit this year. It got an assessment. The Cook County Board of Review set its value at $124.7 million in April 2026. The site currently has a property tax bill of roughly $10 million, while the stadium proposal cited a $9.4 billion economic impact. If you're comparing Arlington Heights to other northwest suburbs and factoring in a stadium bump, it's worth knowing exactly how that story has actually moved.
The site's 2026 assessment
The Board of Review's split vote settled a real dispute. Local school districts had argued the 326 acres should be assessed at $160 million. Appraisers working for the Bears argued for something closer to $60 or $71 million. The board set the value at $124.7 million, which puts a concrete number on land that hasn't hosted a race since 2021 and hasn't broken ground on anything since.
The current update is a contested tax assessment on vacant acreage. Stadium construction jobs and sales tax revenue from a stadium district have not materialized; the school districts and the Bears' appraisers advanced different assessed values.
What actually happened, month by month
It helps to walk through the last twelve months in order, because the pattern is the story:
- September 2025 – Warren sent fans a letter reaffirming the team's commitment to Arlington Heights, describing a plan that would "require zero state money for construction."
- November 2025 – Progress stalled when the site didn't receive the roughly $826 million in state infrastructure funding and the property tax assessment freeze the team had been asking for.
- December 17, 2025 – Warren told fans Arlington Park was "the only location in Cook County that meets the requirements for a world-class NFL stadium," while confirming the team would now also evaluate sites in Northwest Indiana.
- February 2026 – Indiana signed Senate Bill 27, creating a Northwest Indiana stadium authority empowered to put up to $1 billion toward a Hammond project.
- April 2026 – Illinois' own megaprojects bill passed the House 78-32. The Bears said it would still need amendments before it worked for Arlington Heights.
- June 1, 2026 – The Illinois Senate passed its version of the bill, but the House adjourned without taking a final vote and wasn't scheduled to reconvene until fall. The Village of Arlington Heights released a statement calling itself "certainly disappointed in this change of direction."
- June 5, 2026 – The Bears' board of directors voted to formally advance the Hammond project, with soil testing beginning that summer at the Lost Marsh site.
- August 2026 – Warren told reporters the team's focus was Hammond. McCaskey described Illinois talks as "minimal" and said the team hadn't even worked out what it would do with the Arlington Heights land if it builds in Indiana instead.
None of that reads like a deal drifting toward a done stadium in the northwest suburbs. Together, these developments show the Bears advancing the Hammond project while Illinois discussions remain open.
How the Illinois and Indiana proposals differed
The states' proposals differed in funding and approval structure. Indiana's package, up to $1 billion through a dedicated authority, is larger than anything Illinois put on the table.
| Step | Illinois path | Indiana path |
|---|---|---|
| Local approval | Village Board, Plan Commission, and Design Commission review | Single stadium authority created directly by statute |
| Funding mechanism | Property tax freeze plus roughly $826 million in state infrastructure funds, requiring legislative action | Up to $1 billion authorized in one bill, Senate Bill 27 |
| Legislative hurdle | House passed 78-32 in April 2026; Senate passed its version June 1, but the House adjourned before a final vote and wasn't scheduled to reconvene until fall | Signed into law in a single session, February 2026 |
| Status as of August 2026 | Team describes contact as "minimal" | Team describes this as its "sole focus" |
Indiana's law created an authority with borrowing power and a mandate to close a deal; Illinois' proposed route involved review by a village board, two commissions, and a two-chamber legislature. Hammond's mayor, Thomas McDermott Jr., told his city council in June that he looked forward to watching "the Packers beat the Bears" in a stadium his city helped build, adding that he was "completely fine" with the team keeping the Chicago name regardless of where it plays.
The approval timelines differed: as of August 2026, Illinois' bill had not received a final House vote, while Indiana's Senate Bill 27 had been signed into law in February 2026.
What this means if you're comparing Arlington Heights right now
If a listing or a market guide leans on the stadium as a reason values will rise, ask what timeline it's assuming. As of August 2026, the people who'd actually build it say their attention is elsewhere. That doesn't mean the project is dead. The Village's own redevelopment page still describes the 326 acres as "one of the most unique redevelopment opportunities available anywhere" and reiterates that the site remains "highly viable" regardless of what happens with the Bears specifically. It means the premium some marketing already assumes isn't something today's numbers support.
What does support value in Arlington Heights right now has nothing to do with a stadium that might land twenty miles away in Indiana. The downtown corridor around the Metra station already functions on its own terms: the Union Pacific Northwest Line runs express service to Ogilvie in around 40 minutes, and the walkable blocks near the station carry restaurants and the Metropolis Performing Arts Centre independent of whatever happens to the old racetrack. As of October 2025, the median sale price tracked by Redfin sat at $450,000, down slightly year over year, with homes averaging around 45 days on market. That's the fundamentals-based number to compare against other suburbs, not a projection tied to a deal that keeps splitting its attention between two states.
If you're deciding between Arlington Heights and a neighboring suburb, price the home you're looking at against its own comps, its own commute, and its own school district boundaries. Waiting for stadium clarity is a real cost. Buying seasons pass while a decision that isn't yours to make stays unmade.
FAQ
Is the Bears stadium definitely not happening in Arlington Heights? It isn't decided either way. As of August 2026 the team's stated focus is Hammond, but talks with Illinois haven't been formally closed, and the Village continues to describe the site as a viable long-term redevelopment opportunity no matter which way the team goes.
Should I wait to buy near the old racetrack site until this resolves? If you're buying to live in a home rather than to speculate on a stadium timeline, current fundamentals like the Metra commute and downtown walkability are what's actually pricing homes today. An unresolved stadium decision isn't a reasonable thing to wait on.
What happens to the site's taxes if the Bears never build there? The county has already settled a real assessed value, $124.7 million, for the raw land as of April 2026. That number exists regardless of what gets built on the site, and it's the kind of detail worth understanding if you're thinking about how the area's tax base holds up over time.
If you're weighing a home against a headline instead of against its own comps, that's exactly the kind of read Jake Kubota walks buyers through before they write an offer. Schedule a Consultation and talk through what the numbers on the block you're actually considering say, stadium news aside.
This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.
