Athletic Club Planned for Ricketts' Wrigley Hotel

The Ricketts family announced Wednesday they have entered into a letter of intent with Chicago Athletic Clubs (CAC) to open a 40,000-square-foot athletic club inside the proposed boutique Sheraton hotel at the northwest corner of Clark and Addison Streets.

It's a project the family hopes to get off the ground if an agreement is reached to renovate Wrigley Field. 

Ald. Tom Tunney (44th) was expected to make a proposed agreement to City Council in February, but needs more time with the community to work through issues like signage in the outfield, concert limitations and street festivals. 

Tom Ricketts, the principal of Hickory Street Capital LLC, says his family is prepared to invest $500 million into the Wrigley Field development, as well as the surrounding neighborhood, if a sensible agreement is made.

“Just as important (as investing in the City of Chicago), reinvesting in Wrigley Field is a major investment in building a championship organization by providing better facilities for our players and new resources for our baseball operation,” Ricketts said. “Further, by developing a new hotel and a terrific health club that the community can enjoy, we’ll create nearly 2,000 jobs and create $19 million in new tax revenues to the city, county and state.

“Renovating Wrigley Field, creating a plaza for fans and neighbors, developing a boutique hotel including a Chicago Athletic Club will deliver an additional $94 million annual economic impact on top of the nearly $640 million Wrigley field and the Cubs produce today for our city and state,” Ricketts added.

Chicago Athletic Club is a locally and privately-owned company, operating six athletic clubs in the Chicagoland area, including the Lake View Athletic Club at 3212 N. Broadway St.

Chicago Athletic Clubs plan to invest $5 million and lease two floors in the recently announced soft-branded, boutique hotel to be developed in partnership with Starwood Hotels and Resorts. The company is also expanding its marketing partnership with the Cubs to support its future athletic club.

The athletic club would be the largest tenant of the hotel development, featuring top-of-the line cardio and weight training equipment, a 25-meter swimming pool, golf immersion program, a batting cage and specialized fitness classes. For parents who want to engage their children in healthy and stimulating activities, CAC will offer its popular Kids Club at the new location, as well.

In addition to expanding the CAC brand inside the ballpark, as part of its corporate partnership with the Chicago Cubs, the new athletic club, once opened, could provide outdoor fitness activities and programs in the plaza such as yoga and other fitness activities. Inside the new athletic club, the CAC will create a one-of-a-kind branded workout environment.

“We are thrilled to have the opportunity to partner with the Ricketts Family on this special opportunity,” said Pat Cunningham, owner of Chicago Athletic Clubs. “We believe the combination of a world-class athletic club with outdoor activities in the open-air plaza centered around one of the premier sports brands in the world will yield a fitness experience for our members and the community that will be impossible to replicate in all of Chicagoland.”

Hickory Street Capital LLC said it’s proud to partner with CAC which shares its vision to bring new offerings that complement the neighborhood and improve the quality of life.

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