The Ricketts family, owner of the Chicago Cubs, is building a Sheraton hotel across the street from the baseball team's home park, Wrigley Field.
The hotel will be constructed on property where a McDonald's restaurant and a parking lot currently are.
The hotel is part of an entertainment and retail project. About a half-billion dollars is being invested in upgrades to the neighborhood and ballpark, which was built in 1914.
Starwood Hotels & Resorts, Sheraton's parent company, will become the Cubs' exclusive hotel partner. Starwood will have a Starwood Preferred Guest luxury suite behind home plate and will run promotions such as seat upgrades and trips to Arizona to see the Cubs during their spring training.
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