Massive multiple-input multiple-output (MIMO) is perceived as an important technology for the fifth generation (5G) wireless communication networks because it employs large-scale antenna arrays to increase the network capacity, spatial characteristics, and throughput. For suburban line-of-sight (LoS) and non-line-of-sight (NLoS) environments, we investigate the angular spread of azimuth angle of departure (AoD), elevation angle of departure (EoD), azimuth angle of arrival (AoA), elevation angle of arrival (EoA), and channel condition number of the co-polarized and cross-polarized antenna systems. The study is based on the measurements conducted at the 3.5 GHz carrier frequency, 160 MHz bandwidth, and 32×64 cylindrical and planar antenna arrays. The Bartlett algorithm is used to jointly approximate the AoD, EoD, AoA, and EoA of the massive MIMO propagation channel. Results demonstrate that the MIMO channel characteristics show dependence with the antenna polarization combinations and angular spread drops rapidly as the distance between transmitter (Tx) and receiver (Rx) increases. Moreover, it is found that the co-polarized massive MIMO channel has a lower condition number and a higher capability to improve the system performance than the cross-polarized channels. The given results are extremely useful for antenna selection and analyzing the polarization-dependent massive MIMO system design.