Churchill Downs Incorporated has launched the process to sell the Arlington International Racecourse in Arlington Heights, Illinois, with plans for the new owner to redevelop the site.
THe operator, however, said it remains committed to running Arlington’s 2021 racing calendar, which lasts until 25 September. It said it does not expect the sale to close before this date, nor does it expect the sale to impact the schedule in any other way.
Real estate business Coldwell Banker Richard Ellis (CBRE) will market the property to new developers.
Churchill Downs Incorporated chief executive Bill Carstanjen said the racecourse’s location should make it an attractive property site for buyers.
“Arlington’s ideal location in Chicago’s northwest suburbs, together with direct access to downtown Chicago via an on-site Metra rail station, presents a unique redevelopment opportunity,” he said.
“We expect to see robust interest in the site and look forward to working with potential buyers, in collaboration with the Village of Arlington Heights, to transition this storied location to its next phase.
Carstanjen added that the operator was working with authorities to find a new site where it could operate racing under its licence.
“In the meantime, we are very committed to pursuing the relocation of Arlington’s racing license to another community in the Chicagoland area or elsewhere in the state,” Carstanjen explained.
“We are exploring potential options with the state and other constituents and remain optimistic that we can find solutions that work for the state, local communities and the thousands of Illinoisans who make their living directly or indirectly from thoroughbred horse racing.
“We are committed to the Illinois thoroughbred racing industry and will consider all options in working toward opportunities for it to continue into the future.”