Inland makes offer for Wrigley, not Cubs

The Score (WSCR radio Chicago) had it wrong. During their sports news updates today, they were reporting Inland Real Estate of Oak Brook, a publicly traded REIT (NYSE symbol IRC) has reportedly made an offer of $300,000,000 to buy the Cubs. Then they chuckled the offer was off by about $700k. In fact, the Inland offer was aparently just for Wrigley Field, not the entire baseball franchise.

Crain’s Chicago Business Reports:

Inland bids for Wrigley Field: report
(Crain’s) — Inland Real Estate Group of Cos., an Oak Brook-based real estate investment firm, has submitted an offer to buy Wrigley Field, according to the Chicago Sun-Times.

Inland, one of the nation’s largest shopping-center owners, is believed to have offered close to $300 million for the North Side baseball stadium, the Sun-Times reported Thursday on its Web site.

Inland Vice-chairman Joseph Cosenza would not confirm the offer, but said, “I think anyone would want to own Wrigley Field,” according to the report.

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=30238

July 17, 2008 Posted in: Team Ownership, Wrigley Field, biz of baseball