From the Press Release

Starwood also announced today the Ricketts family has signed an agreement to develop a boutique hotel affiliated with the Sheraton brand across the street from Wrigley Field.

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The exterior design and décor of the hotel will be a one-of-a-kind collaboration, which will be uniquely designed to fit within the current neighborhood landscape and community.

"Once we know how we can save Wrigley Field, the Ricketts Family is looking forward to the opportunity to build a hotel across the street. It could complement the neighborhood and its establishments while also serving fans and tourists," said Ricketts Family spokesman Dennis Culloton. "Most importantly, building this hotel is a critical part of a more than $500 million plan to reinvest in Wrigley Field and the neighborhood. The family wants to create 800 construction jobs and 1,300 full-time jobs, preserve Wrigley Field as one of the top three tourist destinations in the state and grow the ballpark’s $650 million in annual economic impact to Chicago and the region."

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The hotel will offer a prime location at the northwest corner of Clark and Addison and be a key anchor component of a large scale entertainment and retail development across from Wrigley Field. Walking distance to the numerous theaters, shops, restaurants, and bars in the Lakeview community, the hotel will be just 15 minutes from the Magnificent Mile and the Chicago Loop providing fans and visitors with additional and desired lodging on the North side outside of Cubs baseball games.