Cubs owner purchases Wrigley rooftop buildings

CHICAGO (AP) - Cook County property tax records show that an entity controlled by the owner of the Chicago Cubs has purchased three more rooftop buildings next to Wrigley Field.

The Chicago Tribune (https://trib.in/1AowHfG ) reports that the purchases mean the Ricketts family now owns six rooftop building near the historic ballpark. The purchases come as the field is amid a renovation that has sparked controversy with owners of nearby rooftop operations.

A sale was expected after a federal judge last month dismissed a foreclosure lawsuit against the businesses. In November, Fifth Third Bank sued the rooftop operations, alleging they owed more than $18 million on mortgages and missed payments. Sheffield Finance bought a portion of the debt and replaced the bank as plaintiffs in the case. Sheffield Finance later sold the buildings to the Ricketts family for an undisclosed amount.

In a statement, the Cubs said, “The Ricketts family has said in the past they are interested in reasonable opportunities to purchase rooftop property and are willing to pay a fair price. … The rooftop situation has been a political and legal morass for more than a decade, and the Ricketts family will remain interested in opportunities which make sound business sense.”

Just three rooftop businesses on Sheffield aren’t owned by the Ricketts family now: Murphy’s Rooftop, at the corner of Waveland and Sheffield and above Murphy’s Bleachers, and Skybox on Sheffield and Lakeview Baseball Club, which have sued the team in federal court.

The tension between the businesses and Ricketts, who bought the team in 2009, stems from the 20-year contract with the rooftop owners allowing the team to collect 17 percent of revenue, and the team’s efforts to add signage that will affect some views from Sheffield and Waveland.

“I’m glad they were able to have this as part of their empire,” said Max Waisvisz, a former minority partner in one of the purchased properties.

Cubs Chairman Tom Ricketts has said little about the team’s plans for the rooftops other than that he plans to keep them in operation.

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Information from: Chicago Tribune, https://www.chicagotribune.com