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Wrigleyville Land Barons

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Not to be mistook for the other multi-million dollar Wrigley-adjacent property for sale, a one-acre site that includes a McDonald's and a parking lot at 3620 N Clark has just been bought by the Ricketts family, owners of the Cubs, for $20M. Despite the size of the site that's still $459/sf, well above the $300/sf average for land in the heart of Wrigleyville, says Crain's. McDonald's is the immediate winner, pocketing the 20 mil then leasing back their restaurant from the Cubs. But the Ricketts family seems confident they can seal the deal on a huge development, with speculation that a hotel/entertainment complex could coalesce. A zoning variance would be required for anything of decent size, but this is one developer with clout. The other property we alluded to is a mere 40x50 lot with zoning rights up to just four stories, listed in November for the third time in four years for $9.9M, and fixed with its very own website. More Cubs bait. [Crain's]