The answer is the attorney representing rooftop viewing buildings Tom Gramatis, Woodstock’s Rob Hanlon.
The new owners of the Cubs, the Ricketts family, has had a contentions relationship with the owners of the buildings around the park whose owners sell seats and drinks to fans the Northside’s baseball team.
The Ricketts don’t think sharing the ticket revenue with the rooftop owners under the royalty agreement is good enough.
Building signs to take away the view has been one tactic to get more revenue for the Cubs and less for the rooftop owners. Such signs would also substantially lower the value of the rooftop buildings.
Then, in November the Fifth Third Bank, which holds mortgages and has extended a line of credit to the rooftop owners filed foreclosure proceedings against owners Gramatis, Max Waisvisz and Daniel Finkel.
The line of credit, needed during the winter because of the lack of revenue was withdrawn by the bank.
Now, with Hanlon as the attorney added last month by Gramatis, the foreclosure threat has gone away.
A Federal court filing by Fifth Third today made that clear. The motion dismissed the cause of action.
Reached on the phone, Hanlon told McHenry County Blog, “I have no comment. Mr. Gramatis has fulfilled his obligations.”
Hanlon is a former Senior Vice President of Commercial Real Estate for U.S. Bank, National City Bank and First Chicago Bank.