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Souvenir Shop Sues Cubs, McDonald's Over Parking Lot Deal

By Chuck Sudo in News on Feb 24, 2012 10:45PM

Image Credit: Angie Naron
Not everyone around is happy with the Ricketts family's December purchase of a parking lot across from Wrigley Field for $20 million. (That's some expensive asphalt.) A sports memorabilia company that has hawked its wares on the lot for years has filed a lawsuit against the Cubs and the other tenant of the property, McDonald's, claiming they're being forced off the lot with opening day weeks away.

Chicago Sports & Novelty Inc. has sold souvenirs on the lot for 42 years and said they have a valid lease to stay there until 2015 that was broken when the Rickettses bought the property. The Ricketts family has been buying properties around the ballpark to redevelop into nightlife options and, coincidentally, a new revenue stream for them.

The family that owns Chicago Sports & Novelty also refer their customers to their main storefront at 1153 W. Addison from their kiosk locations, and would likely see a decline in revenue as a result of losing their space. Under the terms of the sale, any new development of the parking lot must include a McDonald's, which is why the Golden Arches and Mayasol LLC, the franchisee that operates the Wrigleyville location, are defendants in the lawsuit.

A spokesman for the Rickettses would only say the family hopes to come to an amicable solution