... which actually will look a bit different than that once the Cubs build it.

The hotel would be on the south side of Addison between Clark & Sheffield.

however, your complaint about the folks that move to the area is the same everywhere. When I lived in Montana, the Californians that threw a blank check at Montana land complained of the ranchers carrying on, working the early morning hours etc. and here in Santa Fe, the same type folks are stopping the development of a patch of land NOWHERE near their million $ homes, another is a rancher who found oil on HIS 66,000 acre land and the rich do not want him to drill HIS oil, another lawsuit, of course.

I call these people OBLIVIONS, as they are oblivious to anything that doesn’t cater to their egocentric universe. They have NO value of the opinions, desires and needs of others. Only theirs matter.

issues are of economic fairplay. If you sold your run down building for the value of the lot to Schultz, the lot value would have been determined by the zoning regulations. Only so much can be crammed into a 3-4 story building, regardless of the number of lots aggregated, so only so much value associated with the land.

Schultz purchases multiple buildings and is now attempting a variance to allow him to push his building upwards, increasing his gain on the same lot. A gain not allowed to the previous owner.

With this precendent, it could really alter the value of real estate and rate of development around the park and dramatically change the neighborhood.

$3.5 Million…

I bet Bud pays over $500,000 a year to have thier name on the building alone.

With recent development of the rooftops, the opportunity cost of not developing that rooftop into a 200 plus seat roof probably costs then revenue of over $2,000,000 per year!

I bet that is at a solid profit of 30% and that $600k and multiples of 5 to 7 result in over $3 Million in value for that building.

Just my guess.

n/t

but then that would make me Drew Carey, and although I have the body, I can’t pull off the glasses and buzzcut look.

So Blackhawk24 is the winner. The number I’ve heard most often is $8.2M, though I’ve heard $8.3M as well.

The buyer is the same group that put up those two new butt-ugly bulidings on Sheffield, where the Red Top parking lot used to be. Probably safe to say we can expect similar type building once the Bud contract runs out – another year or so I think.

since the rooftop owners are business partners you certainly won’t see one on the back of the bleachers or anything like that. Honestly, though it would suck to lose the Budweiser building cause that is a cool building, it would be neat if it was revealed that the Cubs bought the building and are rebuilding it and throwing a jumbotron up on top.