10:03 AM ET
CHICAGO — Seven years after filing the paperwork, Wrigley Field has been given federal landmark status in the National Register of Historic Places. The move gives owners of the Chicago Cubs, the Ricketts family, access to federal income tax credits on the recently completed refurbishing of the 106-year-old ballpark.
Wrigley Field was built in 1914 but had not had an extensive makeover until the past half-decade when the Ricketts family spent about $1 billion of their own money to refurbish it. They applied for the federal status back in 2013, after becoming eligible for it in 1987, but needed to keep that eligibility through the renovations before being approved. The move should earn millions in tax credits, just as it did for the owners of the Boston Red Sox, who made a similar move with Fenway Park about a decade ago.
The Ricketts family abandoned their desire for taxpayer assistance in the renovations long ago but were hopeful to get the credits in the form of the landmark status, which was approved by the U.S. Secretary of the Interior, David Bernhardt.
“The historical significance of Wrigley Field is interwoven into our nation’s story and a key