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PostPosted: Tue Mar 14, 2023 6:00 pm 
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Jaw Breaker wrote:
From today's Trib:

"Due to refinancing and years of primarily paying interest instead of principal, the debt owed for Soldier Field has ballooned from the original $399 million to $631 million, according to the Illinois Sports Facilities Authority"

Exhibit A for why the Bears shouldn't get a fucking penny to build another stadium.


Just reinforces the fact the McCaskey clan are broke ass bitches, as soon as that old hag dies( this year) this team is sold.

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PostPosted: Tue Mar 14, 2023 6:37 pm 
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312player wrote:
Jaw Breaker wrote:
From today's Trib:

"Due to refinancing and years of primarily paying interest instead of principal, the debt owed for Soldier Field has ballooned from the original $399 million to $631 million, according to the Illinois Sports Facilities Authority"

Exhibit A for why the Bears shouldn't get a fucking penny to build another stadium.


Just reinforces the fact the McCaskey clan are broke ass bitches, as soon as that old hag dies( this year) this team is sold.


That has nothing to do with the McCaskey's.

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PostPosted: Wed Mar 15, 2023 9:07 am 
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Seacrest wrote:
312player wrote:
Jaw Breaker wrote:
From today's Trib:

"Due to refinancing and years of primarily paying interest instead of principal, the debt owed for Soldier Field has ballooned from the original $399 million to $631 million, according to the Illinois Sports Facilities Authority"

Exhibit A for why the Bears shouldn't get a fucking penny to build another stadium.


Just reinforces the fact the McCaskey clan are broke ass bitches, as soon as that old hag dies( this year) this team is sold.


That has nothing to do with the McCaskey's.


The Chicago Park District owns Soldier Field. Seems like it is their problem. Bears just on the hook for the lease for $6.5 a year from what I can tell. Fully admit that I'm no expert here.

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PostPosted: Wed Mar 15, 2023 1:29 pm 
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Brick wrote:
Jaw Breaker wrote:
From today's Trib:

"Due to refinancing and years of primarily paying interest instead of principal, the debt owed for Soldier Field has ballooned from the original $399 million to $631 million, according to the Illinois Sports Facilities Authority"

Exhibit A for why the Bears shouldn't get a fucking penny to build another stadium.

There is a lot out there about how the city chose to go deep in debt for Soldier Field.

why do they want the Bears around then?

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PostPosted: Wed Mar 15, 2023 1:33 pm 
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City of Fools wrote:
why do they want the Bears around then?
They didn't really put in a very good effort to keep the Bears.

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PostPosted: Tue Jan 30, 2024 6:38 pm 
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https://www.chicagobusiness.com/politic ... -valuation

Quote:
Today the team argued at a hearing of the Cook County Board of Review that the land should be appraised at $60 million rather than the $160 million put forward by three area school districts.

The team’s property tax attorney, Matthew Tully, also asked that the team be taxed at the county’s 10% residential rate rather than the 25% commercial rate because of the ongoing demolition work to dismantle the racetrack that formerly occupied the property.

Tully argued at the virtual hearing that Cook County Assessor Fritz Kaegi’s $197 million valuation, which tracked with the price the team paid for the property, was an example of “sale chasing” and did not consider that “the real estate market has gotten worse, demolition was ongoing and taxes were more than double.”

The school districts released their own appraisals of the property in December, pegging the value of the former racetrack at $160 million, which was less than the $197 million Kaegi valued it at in 2023.

“In February of 2023 the Chicago Bears paid $197 million for a property they now want you to believe is worth $60 million,” Scott Metcalf, an attorney for the school districts, said at today's hearing.

Last year, the school districts and the site's former owner, Churchill Downs, reached a settlement of $95 million for valuation of the land used to determine its 2022 tax rates.

Board Commissioner Larry Rogers, who has frequently clashed with Kaegi since the assessor took office in 2018, suggested he would not side with the school districts' higher valuation.

Rogers said he was “not persuaded that (the site) should be treated any differently than other properties” despite the potential stadium development and called Kaegi’s valuation “questionable” for so closely tracking with the Bears' purchase price.


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PostPosted: Tue Jan 30, 2024 6:56 pm 
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Makes sense.

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PostPosted: Tue Jan 30, 2024 8:03 pm 
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"The real estate market has gotten worse," I think to myself every day.

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The team’s property tax attorney, Matthew Tully, also asked that the team be taxed at the county’s 10% residential rate rather than the 25% commercial rate because of the ongoing demolition work to dismantle the racetrack that formerly occupied the property.

Why, is there someone living in the rubble?

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PostPosted: Tue Jan 30, 2024 8:09 pm 
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The Diversity, Equity and Inclusion department will square this all away.


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PostPosted: Tue Jan 30, 2024 8:32 pm 
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I'm sure Kevin Warren thanks the McCaskeys every day that they took care of the tax situation before buying it.


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PostPosted: Tue Jan 30, 2024 8:33 pm 
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KDdidit wrote:
I'm sure Kevin Warren thanks the McCaskeys every day that they took care of the tax situation before buying it.

He wakes up at 5 a.m. every morning and sits in bed for half an hour thinking about how brilliant it was to try to big-dick Cook County into a corporate bailout.

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PostPosted: Tue Jan 30, 2024 8:40 pm 
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Even the school boards were like "Fritz says it's worth $197 million, but we can't even use that with a straight face so we'll go with 160."


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PostPosted: Tue Jan 30, 2024 10:39 pm 
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Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

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PostPosted: Tue Jan 30, 2024 10:42 pm 
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conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.

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PostPosted: Tue Jan 30, 2024 10:50 pm 
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Curious Hair wrote:
conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.

It’s kind of funny because on a residential appeal, making the case that the home isn’t worth what you paid for it earlier that year would likely get you a quick kick in the ass.

As an aside, wouldn’t that overwhelm the school district?

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PostPosted: Tue Jan 30, 2024 10:58 pm 
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This Ends in Antioch wrote:
As an aside, wouldn’t that overwhelm the school district?

I dunno. Glenview made it work. I think that's more or less the blueprint.

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PostPosted: Tue Jan 30, 2024 11:03 pm 
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This is why I said they will never get it built. I said it the moment they bought the land

This tax fight is the nickel and dime shit and look how long it's taking?

The real issue is how they are going to raise the 2 billion dollars to build the fucking stadium.


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PostPosted: Tue Jan 30, 2024 11:11 pm 
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Curious Hair wrote:
This Ends in Antioch wrote:
As an aside, wouldn’t that overwhelm the school district?

I dunno. Glenview made it work. I think that's more or less the blueprint.

Glenview kind of fucked it up. They budgeted for one new school’s construction cost without getting funding for ongoing operation of the school, so they were effectively doing a proto-Lebron new school opening schtick without the Bernstein slobber.

The postscript saw them pull money from the budgets across the rest of the district over the next 20 years until they eventually passed a $100m referendum to cover the cost of making repairs they avoided because of the initial fuck up.

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PostPosted: Tue Jan 30, 2024 11:39 pm 
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Curious Hair wrote:
conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.


The only people who need housing are the illegals coming from Texas. This state is hemorrhaging residents on a daily basis. Though watching the McCaskeys fuck something up is always enjoyable.

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PostPosted: Wed Jan 31, 2024 6:15 am 
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Curious Hair wrote:
"The real estate market has gotten worse," I think to myself every day.

Quote:
The team’s property tax attorney, Matthew Tully, also asked that the team be taxed at the county’s 10% residential rate rather than the 25% commercial rate because of the ongoing demolition work to dismantle the racetrack that formerly occupied the property.

Why, is there someone living in the rubble?



It's possible. A guy I know spent a summer living in the tote board. Oddly enough, he still had a Churchill Gold Card.

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PostPosted: Wed Jan 31, 2024 7:00 am 
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Curious Hair wrote:
conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.

You have been a champion of the flawed idea that "Stadiums don't make money for cities" and yet the Bears try and do the right thing and build their own stadium with their own money and you are mad at them for not instead demanding $2 billion of taxpayer money to not play in the worst stadium in the NFL?

Instead, you want Arlington Heights to build another few subdivisions because there aren't nearly enough subdivisions in the area?

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PostPosted: Wed Jan 31, 2024 8:57 am 
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Brick wrote:
Curious Hair wrote:
conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.

You have been a champion of the flawed idea that "Stadiums don't make money for cities" and yet the Bears try and do the right thing and build their own stadium with their own money and you are mad at them for not instead demanding $2 billion of taxpayer money to not play in the worst stadium in the NFL?

Instead, you want Arlington Heights to build another few subdivisions because there aren't nearly enough subdivisions in the area?


Let him go. He is usually more logical than this.

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PostPosted: Wed Jan 31, 2024 9:13 am 
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Joe Orr Road Rod wrote:
Curious Hair wrote:
"The real estate market has gotten worse," I think to myself every day.

Quote:
The team’s property tax attorney, Matthew Tully, also asked that the team be taxed at the county’s 10% residential rate rather than the 25% commercial rate because of the ongoing demolition work to dismantle the racetrack that formerly occupied the property.

Why, is there someone living in the rubble?



It's possible. A guy I know spent a summer living in the tote board. Oddly enough, he still had a Churchill Gold Card.


I figured Oscar Echo Tango had an interesting backstory.

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PostPosted: Wed Jan 31, 2024 9:18 am 
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Allstate demolished their buildings in that strip of land on Route 72 in Hoffman Estates along I-90 to get the property valued as just land. But in this case, the Bears just paid fair market value, so the purchase price rightly should be the appraised value. But once the demolition is complete, then it does change from a commercial use to just land. The value would come down. Maybe Michael Madigan could help get the property value reduced…..

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PostPosted: Wed Jan 31, 2024 9:24 am 
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denisdman wrote:
Allstate demolished their buildings in that strip of land on Route 72 in Hoffman Estates along I-90 to get the property valued as just land. But in this case, the Bears just paid fair market value, so the purchase price rightly should be the appraised value. But once the demolition is complete, then it does change from a commercial use to just land. The value would come down. Maybe Michael Madigan could help get the property value reduced…..


It has been a long time for me but did there not used to be a tax formula in Illinois that always had the assessed amount quite a bit less than purchase price? At least in a single family home.

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PostPosted: Wed Jan 31, 2024 9:29 am 
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This is a dumb question for sure but wouldn't the same logic let the Bears "sell" the land to the NFL for $1 and then the NFL sells it back to them for $10 and then the value of the land is suddenly $10?

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PostPosted: Wed Jan 31, 2024 9:56 am 
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for once the cook county tax system gets it right. values the land at the fair market purchase price... and these idiots are fixated on saving a few million on a few billion dollar project. typical bears


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PostPosted: Wed Jan 31, 2024 10:41 am 
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Brick wrote:
Curious Hair wrote:
conns7901 wrote:
Probably should be the same 95 million Churchhill paid. It wasn't used in 2022 or 2023.

It's worth what they paid for it. The McCaskeys are dolts. This was not the way to do business and they deserve to have it blow up in their faces. I hope it becomes the housing we need.

You have been a champion of the flawed idea that "Stadiums don't make money for cities" and yet the Bears try and do the right thing and build their own stadium with their own money and you are mad at them for not instead demanding $2 billion of taxpayer money to not play in the worst stadium in the NFL?

Instead, you want Arlington Heights to build another few subdivisions because there aren't nearly enough subdivisions in the area?


Let’s not go crazy and say the Bears are doing the right thing. Full credit for not doing the objectively worst thing though.


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PostPosted: Wed Jan 31, 2024 10:57 am 
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Why would they want to deal with Cook County? Move to Aurora!


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PostPosted: Wed Jan 31, 2024 11:01 am 
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blackhawksfan wrote:
Why would they want to deal with Cook County? Move to Aurora!

Shut the fuck up

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