ESPN: Wrigley Rooftops Hit By Economy

I read this article on ESPN and found it to be pretty interesting. I didn't really know that much about the rooftops prior to reading it.

Looks like they'll become a bit more affordable....

Has anyone ever had the luxury of being at Skybox on Sheffield or any other rooftop for a Cubs game?

If so, share.

11 months ago EJThunder 16 comments 0 recs |

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Smart businessmen...

… trying to make money any way they can. If they bring the prices down enough, they’ll sell.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al on Mar 12, 2009 8:00 PM CDT reply actions 0 recs

I've been on a couple rooftops on Sheffield

In both experiences it was for a corporate outing with clients. Which is the typical clientele for most of the rooftops. When you’re with a group and are semi-working by talking to clients you tend not to pay major attention to the game. You’re their to talk, eat, drink and hopefully cement professional relationships in a fun and unique way.

I think going to one of the rooftops for the strict purpose of watching the game would be disappointing. The sight lines aren’t always the greatest. Also the relative distance from the field is something that I definitely notice.

by BLou on Mar 12, 2009 9:26 PM CDT reply actions 0 recs

I've been invited to rooftop parties before.....

but that’s just not me, and it’s not my crowd. I don’t fit in with the whole “rooftop culture” at all. It’s like the Miller High Life commercial….“CAN ANYBODY IN HERE TELL ME WHAT INNING WE’RE IN???”
I love to party when the Cubs win. When they lose, I hop on the El train and go home quickly and quietly. I don’t want to bop around the neighborhood and act like I’m having a good time if the Cubs lose. Only when they win. And I HATE that T-shirt that says “Win or Lose, We Still Booze.” The rooftop crowd (at least in 21st century Wrigleyville) gives Sox fans ammunition to label Cub fans as nothing more than corporate yuppies who just come to party, eat, and mostly, drink. I would probably get pushed off the rooftop by the second or third inning with the way I live and die with every pitch.

"Don't complain to me about the stormy weather, boys. Just bring the ship into port." --Steve Stone, September 2004

by ctcoff99 on Mar 12, 2009 11:24 PM CDT reply actions 0 recs

Been up there only since the agreement

In fact, I was dead set against them and their “theft of product” until the agreement was struck a few seasons ago.

Only being there as part of a large group have I gone to the rooftops, most often to what I call the GlennAllen Hill rooftop; reminiscent of his May 11, 2001 shot.

Up there it’s just like ctcoff99 said; the Miller commercial (I love that guy; who better to head over to a bar with than him) where he heads over to “skybox la-ti-da”…..“to watch your favorite pitcher…get lit up?! Take him out!”

Yeah, I indulged in the food and beer but managed to see the entire game w/o missing a pitch or 2. Best part is the shorter walk to refreshments and the john. Yes it was a social situation tied to my professional side and I did speak with various folks who made that evening possible. But since they knew they were inviting an avid fan, they knew from minute 1 there was going to be at least one person actually facing the field and paying attention.

Sweet Lou for Mayor in '11.

by blackhawk24 on Mar 13, 2009 7:45 AM CDT reply actions 0 recs

Nitpick

The Glenallen Hill rooftop shot was on May 11, 2000.

"That's my opinion and if you don't like it, well, I have others." ~ Groucho Marx

by Al on Mar 13, 2009 8:50 AM CDT up reply actions 0 recs

Dumb-ass

I even checked for the exact date since I didn’t want to confuse it with the Chad Kreuter stolen baseball cap / brawl near section 35, which was May 16th. Then I go ahead and mess up the date by a whole year. Both games I happened to be at, though the “cap” game IIRC was a night game.

Sweet Lou for Mayor in '11.

by blackhawk24 on Mar 13, 2009 1:34 PM CDT up reply actions 0 recs

the rooftops

are like a basement, they are a bonus only, and should not be part of what the building owners “count on” for their finances.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Mar 13, 2009 8:05 AM CDT reply actions 0 recs

Are you kidding?

Count-on? The whole ownership of the buildings are based on this revenue stream. I’m not completely defending them since the way this began was theft of product IMO.

However with the agreement in place – 17% of their gross revenue for 20 seasons going to the Cubs – their entire existence is based on selling those rooftop tickets. The allure of the Cubs and being across from Wrigley is the main reason the “Budweiser” Bldg sold for about $8.5M last year. This is what some people still don’t get.

If the Cubs and rooftops reached an agreement right away (and that is a BIG IF), before any conflicts, I would have to say that is an awesome business opportunity and a reason why I love capitalism so much.

Sweet Lou for Mayor in '11.

by blackhawk24 on Mar 13, 2009 8:15 AM CDT up reply actions 0 recs

maybe i didnt explain it as well as i should

the owners of the rooftop should not base their finances on expected profit from their roof. that is a bonus, nothing more. I understand that they make a lot of money on it, but the rooftop is not something that you should base your projected budget for the year off of. Consider it similar to commissions in sales, you have to plan your budget around the salary knowing that your commissions may be larger or smaller each month.

I agree that it can be financially great for both the Cubs and the rooftop owners, but those are tickets you have to consider a bonus, kind of like standing room only.

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Mar 13, 2009 9:06 AM CDT up reply actions 0 recs

ok, I'll bite...

If not rooftop revenue, then what should they base their finances on – rental income?

Lou Brown: "My kinda team, Charlie, my kinda team..."

by ballhawk on Mar 13, 2009 11:48 AM CDT up reply actions 0 recs

that is why people buy apartment buildings

to make money on renting apartments

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Mar 13, 2009 12:18 PM CDT up reply actions 0 recs

ok, I imagine Professor Capitalism will weigh in with the heavy stuff...

…so I’ll just add that two of the rooftop buildings on Sheffield have been tenant-less for well over a year while they tore down the building to its girders just to make it strong enough to support more rooftop seating. The GlenAllen Hill rooftop building got rid of most, if not all, of its tenants. I’m not sure but I think the LBC rooftop building is completely tenant-less. And several of the other rooftop buildings have converted their third floor apartments into additional entertaining areas.

That’s a lot of rental income tossed aside. Now I may have a less-than-glowing opinion of the rooftop owners, but I’m pretty sure they ran the numbers and figured out that they make more money off the rooftops than they do from their tenants. I lived in one for a year in the early 90’s just when this rooftop stuff was taking off – and I can tell you from direct experience, the owner spent way more time and money on the roof than he did the rest of the building.

And even in a down economy, I’d wager the rooftop owners are not going to be hurting if they adjust their prices accordingly. And when the economy picks back up again, I’m sure they’ll be ahead of the curve and the profits will roll in again.

Lou Brown: "My kinda team, Charlie, my kinda team..."

by ballhawk on Mar 13, 2009 12:44 PM CDT up reply actions 0 recs

point taken

"I like coconuts, you can break them open and they smell like ladies lying in the sun" Widespread Panic

by Cubbie-Tim on Mar 13, 2009 12:55 PM CDT up reply actions 0 recs

My guess is their...

net profit for a rooftop is about 3-5x than it would be if they had all 3 flats rented for the entire calendar year. AND that rooftop profit is generated about half the time.

Like I said before, if they didn’t attempt to do what I (and only I, not speaking for others) call “theft of product” originally, I would have to say their business model is a unique kick-ass experience in which their ROI could be realized in less than 4 years.

Sweet Lou for Mayor in '11.

by blackhawk24 on Mar 13, 2009 1:41 PM CDT up reply actions 0 recs