The Rosemont Cubs?

Most people going to Cubs games are from outside the neighborhood, so you're right that they will spend their money elsewhere, and, yeah, the property value of the Cubby Bear might take a hit. But Lakeview has a thriving restaurant/nightlife scene that is independent of the Cubs. And I would bet that for every resident that moves in because of the Cubs, there are a bunch who avoid living there, or who wouldn't mind seeing the team gone. I would bet that if Wrigley ever got knocked down, the prices paid to develop that plot into housing would be e-fucking-normous, for the simple reason that it's appealing area that is convenient (via the Red Line and/or bus) to work downtown.

I'm not rooting for the Cubs to leave Wrigley, but beyond sentiment, I can see where the economics -- for everyone -- can point to the team going to Rosemont.

 

Why not? I would agree it would not be done lightly, but I think Rosemont, in this time, represents the most credible threat there's ever been.

 

Because Wrigley Field is still an incredible cash cow for the Chicago Cubs. They like to talk about the ways their revenue is restricted, and fair enough because it's their PR campaign, but outside observers still estimate the Cubs are in a nearly elite revenue class that only the Yankees (and soon the Angels) can easily beat.

And because even if you give them the land for free, no suburb is going to come up with $1 billion to build the stadium, and the Cubs aren't going to pay for that when they could pay 1/3rd of that to renovate Wrigley.

 

Rents would drop for a while. And, a lot would depend on how quickly they could tear down, and redevelop Wrigley's site.

But, it's still a very desirable area to live. The Southport area just west of the stadium is thriving, with lots of families. Boystown just to the east is thriving too. And, Lincoln Park, just south, is one of the most expensive neighborhoods in the city.

The area has Red and Brown line stops near by.

And, without the Cubs, and the drunks, it would be more desirable for families.

Certain people would lose out. bar owners and landlords would take a hit. But, overall, the neighborhood would be fine.

 

Speaking of "drunks," that problem is overstated. There aren't flocks of people, terrorizing families and pissing indiscriminately, at anywhere near the levels these stories suggest.

 

There aren't beatings every night at White Sox games, either, but that image has been a bit hard to shake, too.

 

Some more info:

 

Kinda kills the whole, "We need a new ballpark or we can't be competitive!" schtick.

Shit, for that amount of profit, they could have afforded a Josh Hamilton and had a little left over.

Actually, come to think of it, they HAD Hamilton at one point, getting him in the Rule 5 draft. Then they sold him to the Reds on the same day.

 

To be fair, the Cubs are choosing their language very carefully.

They are emphasizing the ways that the restrictions on Wrigley expansion keep them from making more revenue, but they aren't technically crying poor.

 

They don't need a new ballpark but anyone who has attended a game there in the last few years will tell you they could stand to spruce up the place a bit. It's still a great place to watch a game but the concourses, bathrooms, press box, etc. all need upgrades.

They also need to upgrade the team facilities - for both the Cubs and visiting teams.

 

I don't know enough about the company behind the offer, but I received this offer today to purchase Cubs tickets (among others) at a discount:

http://local.amazon.com/chicago/B00BZ6X5SW?src=email&cid=em_dd_606_101_na_s1_&ref_=pe_254660_28925390

The company is ScoreBig.com, and it looks like they have lots of discount Cubs tickets:

https://www.scorebig.com/chicago-cubs-tickets

Are they getting the inventory from the team, or ticket holders?

Funny how a few years ago, the Cubs were taking grief for running their own scalping operation, while now they can't sell out Opening Day, and discount tickets are plentiful.

 

Chicago and the Cubs are reportedly near a deal:

http://espn.go.com/chicago/mlb/story/_/id/9139426/chicago-cubs-city-chicago-close-wrigley-field-renovation-deal-according-report