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Rumors Fly About Inland's Play for Cubs' Home

CHICAGO-It's reported that the Tribune Co., owned by real estate magnate Sam Zell, may be negotiating to sell Wrigley Field to Inland for almost $300 million.

By Gina Kenny | Updated on July 18, 2008

CHICAGO-Inland Real Estate Group of Cos. Inc., based in Oak Brook, IL, is rumored to have made an offer, nearly $300 million, for Wrigley Field, the baseball stadium owned by Tribune Co. The company, now owned by local real estate Sam Zell, has said it is looking at ways to raise capital, including the sale of the prominent Tribune Tower Downtown, at 435 N. Michigan Ave., and the Times Mirror Square building in Downtown Los Angeles. Now it’s reported that Inland may make a play for the home of the Chicago Cubs baseball team. An Inland spokesman would not comment on the rumor.

The Tribune Co. had been in negotiations with the Illinois Sports Facilities Authority to acquire the stadium. However, the company has ended negotiations with the ISFA, according to a released statement from the Tribune Co. Representatives from the Tribune Co. did not return a phone call seeking comment.

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