During his 41 years in Arlington Heights, Arnold Rusten’s life has been intertwined with that of his neighbor on Euclid Avenue: Arlington International Racecourse.
Through the years, Rusten, 78, has rented his home to a jockey, watched the traffic get more and more congested on race days and befriended the track’s head veterinarian and the chief maintenance man.
In fact, says Rusten, “we moved here because of the combination of the track and the cornfields.”
For many area residents, the racecourse has meant a place to take the family on Mother’s Day, the best seat for 4th of July fireworks and a moneymaking venue for charities.
And for the local economy, the track has provided 4,500 jobs with a $40 million annual payroll, and $45 million in goods and services, according to the village.
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But the future of Arlington International, outlined Tuesday by its owner, Richard Duchossois, appears to be far different than its past. Duchossois said the facility would be shuttered in 1995, with no racing, no leasing of stables to other track operators, no activities whatsoever.
Track officials painted a picture of a darkened facility, staffed only with a few maintenance and security personnel, but kept in shape should a legislative breakthrough occur-namely, a casino license and more tax breaks.
“After discussions with the governor on Friday and the (Illinois) Racing Board yesterday, we have said we’ll leave our facility intact and we’ll maintain it should the legislature want us back,” Duchossois said. “We will not occupy the space, we will not tear it down, in case the state of Illinois wants us here.”
By keeping the facility dark in 1995, Duchossois said the operation could realize up to $2 million in real estate tax savings. The track currently pays $5.5 million in property taxes.
In theory, the assessment of the property would decline since the buildings are vacant and there is diminished revenue. Track officials submit financial data and operating information to the Cook County Assessor’s Office for reassessment, said office spokesman Cheever Griffin. The track is slated for reassessment in 1995.
The racecourse property had a 1993 market value of about $69 million, according to the assessor’s office, and an equalized assessed valuation of $56 million, the village says.
So track officials say any possible uses for the track in 1995 would be weighed against the financial benefits of a reduced property tax.
For instance, as for suggestions that another operator may lease Arlington for racing in 1995, Duchossois said no such offers had been made to him and that he would dismiss them anyway. “My pride would not allow me to do that,” he said.
Duchossois also doused speculation that he may plant crops on the backstretch to gain an agricultural tax break, saying he wanted to maintain the buildings and 325-acre grounds as they are now.
Officials would not say how many employees soon would be laid off, but Mordell did say the entire staff would be affected by the closing.
So too will the regional economy.
Though area business people said Tuesday that they want to see Arlington reopen, if it doesn’t, the track’s prime location will ensure that developers will be lining up to get a piece or all of it.
One local real estate appraiser said the land-located along Illinois Highway 53 and with its own commuter station on the Chicago & North Western rail line-is worth several million dollars, and could go for as much as $120,000 to $125,000 an acre.
“If the racetrack land became available, it would sell like hotcakes,” said Richard L. Bender, a professional real estate appraiser based in Arlington Heights. “For one thing, it’s within walking distance to the train station-that’s a big selling point. Plus it’s got really good access to the highways.”
Analysts said the site could be used for either residential or commercial projects. But many believe the most likely scenario would be some kind of mixed commercial and residential project.
After the track burned down in 1985, a village study examining potential uses included: a major regional shopping center; a mixed-use retail-resident-office type of development; and a community center that would include a cultural facility as part of a mixed commercial development.
In the short term, however, the impact of a stagnant site will be acute; the Village of Arlington Heights says the track contributes $112 million annually to the local and state economy.
“From a tourism point of view, the area has been badly hurt by the closing of the track, which comes on the heels of the closing of Poplar Creek (Music Theatre in nearby Hoffman Estates),” said Thomas S. Rivera, president of the Greater Woodfield Convention and Visitors Bureau. “We certainly would like to see something happen at the racetrack this summer.”