Wrigley Field Rooftop Owners Owe $36M, Facing Foreclosure

[KamaAina]

Just when you thought the Cubbies had hit rock bottom...

http://chicago.curbed.com/archives/2014/11/17/wrigley-field-rooftop-owners-owe-36m-facing-foreclosure.php

It's been a busy off-season at the Friendly Confines with the Wrigley Field rehab in full swing, however it appears that one iconic part of the stadium experience is could be permanently cut from the roster. According to the Sun-Times, Fifth Third bank has filed for foreclosure on the Wrigley Field Rooftop Club and Sheffield Baseball Club rooftops at 3617 and 3619 N Sheffield Ave., saying they owe more than $36 million in principal, interests and other fees.

The rooftop owners and Cubs leadership have been at odds for months over the plan to renovate the stadium and add new video screens that could potentially restrict the view from the rooftop properties. According to one of the owners, a slow season and other factors have led to the current financial situation. As teardown and reconstruction continues, it looks like Wrigley and possibly the rooftops surrounding it will have a much different look next year.

[JeffHead]

1. Wasn't that the plan all along?

Bankrupt these moochers and snap up the buildings on the cheap. Wouldn't surprise me if the
Rickets all of a sudden are interested in a little local real estate.

[ProfessorGAC]

2. Not Much Sympathy Here

I know the Ricketts family may be acting like sharks here, but these people got themselves so overextended that a cold summer put them $36 million in debt?

I'd say the rooftop owners aren't exactly a paradigm of good businesspeople and they kind of get what they get.

Besides, i went to my first game at Wrigley in 1961, and there was NOBODY up on those roofs. There was nobody up there until the 80's. So, the "nostalgia" over the overlooking rooftops is quite overblown.