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Arlington Racetrack 2019/2021   Horse Racing

Started 2/13/19 by Amy (1pony); 26229 views.
sandins

From: sandins

9/30/21

yep.........,just get outta there

Amy (1pony)
Staff

From: Amy (1pony)

10/1/21

They have to do something with the money or pay major Capital Gains tax

sandins

From: sandins

10/1/21

and didn't just happen, so must have been in plans for awhile.........another corrupt business, CDI

Amy (1pony)
Staff

From: Amy (1pony)

10/2/21

They had to have identified a few properties to name in the 1031 Exchange

sandins

From: sandins

10/2/21

yep...........Big business..........

Amy (1pony)
Staff

From: Amy (1pony)

10/15/21

Is this a pipe dream or could it work?

gerchgo

From: gerchgo

10/15/21

Never say never. Chicago mayor doesn’t get swayed much and the Bears might not be able to leave Chicago without significant financial loss. It’s good to be ready to jump in if the sale falls through. But they should also consider purchasing /reopening Balmoral for harness and leave Hawthorne for flat racing. The issue there is it’s in Will County, and racing’s were approved for Cook only in the northern section. That would require amendments to legislative law.

Amy (1pony)
Staff

From: Amy (1pony)

10/15/21

The Bears only lease the field I know the lease runs thru 2033 but they could make a one time payment in 2026 to leave early.

gerchgo

From: gerchgo

10/15/21

Yes, but they need that money to purchase and develop the site. 

Amy (1pony)
Staff

From: Amy (1pony)

10/16/21

The Bears will need to find a partner to help them build the stadium (probably a company who will get the naming rights).

But 84 Million to buy out the lease isn’t that much when you consider the $$ a new stadium will bring in for them.

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