Urban Fold

Redevelopment Project Across from Wrigley Field

According to Tribune staff reporter Ameet Sachdev, "owners of the Chicago Cubs bought property across the street from Wrigley Field from McDonald's Corp. for $20 million, expanding their opportunities to redevelop areas around the stadium."

Sachdev writes that "a spokesman for Cubs Chairman Tom Ricketts said he and his family have not developed plans for the property yet."

"The area around Wrigley Field has become a lucrative entertainment district with bars, restaurants and rooftops catering to fans. But nearly all of the properties are owned by other landlords. ... Their original plan, which included the use of amusement taxes paid on Cubs tickets, received little political support. But the family continues to have conversations about public financing with Mayor Rahm Emanuel and members of the General Assembly," says Sachdev

Below, courtesy of the Chicago Tribune, is the view of the McDonald's restaurant, a parking lot and Wrigley Field at the intersection of Clark and Addison in Chicago. The Ricketts family has reportedly paid $20 million for the property which includes the McDonald's restaurant and a parking lot. (Antonio Perez/Chicago Tribune)

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Full Story: Ricketts family buys McDonald's land across from Wrigley Field

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