Politics & Government

Wrigley Renovation May be Supported by Million-Dollar Tax Incentive

Mayor Rahm Emanuel introduced the property tax incentive that would reduce taxes by more than $8 million over 12 years.

The $232 million renovation of historic Wrigley Field would be supported by a property tax incentive introduced to City Council Wednesday by Mayor Rahm Emanuel.

The Class L incentive, which encourages the rehabilitation of landmark properties, would reduce taxes on the 99-year-old ballpark by an estimated $8.1 million over 12 years.

The proposed renovation by Chicago Baseball Holdings LLC would update the building with modern amenities while restoring a variety of historic features that characterized the park in the 1930s. Exterior work would include the removal of non-historic facades and the installation of missing architectural details, including ironwork fencing, stucco walls and Spanish tile roofing. 

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Construction would include a new west gate, a new restaurant space on Addison and expanded outfield bleachers along Waveland and Sheffield avenues. Interior work would include expanded dugouts, renovated clubhouses, improved broadcast booths and luxury suites, and a variety of grandstand repairs.

Current property taxes on the ballpark are estimated at $1.5 million annually. Annual taxes are projected at $4.2 million at the completion of the 12-year incentive period.

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Built at 1060 W. Addison St. in 1914, Wrigley Field was designated as a Chicago landmark in 2004. The proposed renovation was approved by the Commission on Chicago Landmarks in August.

Work would start this fall and be completed in 2018.


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