Churchill buying Arlington land

Churchill Downs Inc. announced Thursday that it is buying 66.8 acres at Arlington Park in Chicago for $27.5 million from The Duchossois Group Inc.

Churchill has leased the property, which is part of Arlington's racing facilities, since the September 2000 merger of Churchill Downs and The Duchossois Group.

Churchill's option to buy, which was spelled out in the merger, expires in September, and Churchill "has determined that it would be in its best interest to exercise the purchase option at the this time," according to a company news release.