Ricketts Buys Another Wrigleyville Property on Clark

The owners of the Chicago Cubs have purchased another building in Wrigleyville, adding to their collection of properties surrounding Wrigley Field.

The Ricketts family purchased the almost 29,000-square-foot building at 3721 N. Clark St. for $2.3 million, Chicago Real Estate Daily reports. They purchased it from a Tribune Co. venture that offered a lease-to-buy deal when the Ricketts purchased the team in 2009.

The Cubs also occupy the building as office space, but representatives with the team have long told the community during neighborhood meetings the space has become cramped.

Designs for the Ricketts’ $500 million redevelopment of Wrigley Field and the surrounding area include new offices on the north end of the proposed Triangle Plaza to relieve congestion. Renderings of the new office building are along Waveland Avenue, across the street from the recently purchased building at Waveland and Clark Street.

Cubs Vice President of Communications Julian Green told Crain’s Chicago that plans for the building are not set in stone, and the other occupant—food vendor Levy Restaurants—will remain tenants in the building.

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He added that if the team’s plans for Wrigley Field are approved and the Cubs move to new offices in the Triangle Plaza, the building would likely not be demolished.

This acquisition comes after the Ricketts family purchased the McDonald’s lot at Addison and Clark Streets for $20 million in December. They plan to build a in conjunction with Wrigley’s rehabilitation.