Arlington Park buys 66 acres in $27.5 million deal

Churchill Downs Inc.'s Arlington Park Racecourse will pay $27.5 million for 66.8 acres of land it currently leases as part of it's racing facilities in Arlington Heights.

Louisville-based Churchill Downs announced the purchase from The Duchossois Group Inc. on Thursday.

As part of the merger of Arlington Park and CDI in September 2000, Arlington Park entered into a lease with an option to buy the land with The Duchossois Group. Arlington Park has leased this land from The Duchossois Group since the 2000 merger.

If Churchill Downs Inc. had opted not to buy the land, the purchase option would have expired in September 2010.