Ricketts Reportedly in Negotiation with Handful of Rooftops to Purchase Buildings

The biggest news from Wednesday concerning Wrigley Field and the surrounding neighborhood hit the wire during game two of the World Series courtesy of David Kaplan.

Kaplan reported that several of the rooftop club owners, on both Waveland and Sheffield, are in negotiations with the Ricketts family to sell their property. The Ricketts family owns two of the buildings through an LLC that is separate from the team.

David Kaplan indicated that negotiations “heated up recently after the renovation plan received final approval from the City of Chicago.”

According to the report, “the negotiations have taken on a much friendlier spirit with both sides trying to find a common ground that helps the Ricketts family address their renovation and signage needs, eliminates the threat of litigation for potentially blocking some rooftop views into the ballpark and provides a financial deal that the rooftop owners can find acceptable.”

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George Loukas is one of the rooftop club owners “that has been negotiating with the Cubs to finalize a sale of at least one of his rooftop buildings” and he is “closing in on a deal.” Other talks between the Cubs and “a handful of other building owners” are believed to “have moved well beyond the exploratory stage.”

 



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