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 - Tom Gramatis and his Rooftop owner, bank settle...
Tom Gramatis and his Rooftop owner, bank settle Deal may help facilitate a sale of businesses By Jared S. Hopkins Tribune reporter Fifth Third Bank and a Wrigley rooftop owner reached a settlement of the bank's November complaint complaint alleging the owner's business owed over $18 million on mortgages and had missed payments, according according to papers filed Friday Friday in federal court The bank is asking a judge to dismiss all financial financial claims against Tom Gramatis, the majority owner of rooftop operations operations at 3617, 3619 and 3637 N.Sheffield Ave. The proceeding likely pushes forward the prospect prospect of those rooftops being being sold, either through a foreclosure proceeding or to another investor. The properties are not currently currently in foreclosure. Reached for comment, co-owners co-owners co-owners have long wanted out of Gramatis' attorney Robert T. Hanlon said, "Mr. Gramatis has fully performed performed his obligations." He declined further comment. Steve Levy, an attorney for the bank, declined to comment. Friday's proceeding does not name Gramatis' business partners, Max Waisvisz and Dan Finkel. Waisvisz said claims will eventually be dismissed against him and Finkel. "We're just doing it step by step," said Waisvisz, who owns Gold Coast Tickets. He previously said he and his partners have long wanted to exit the messy world of Wrigley rooftops and he had been negotiating negotiating with potential buyers. He also said rooftop business business was slow and that Fifth Third had pulled a $1.4 million line of credit he relied on to conduct business business in the offseason. Finkel could not be reached for comment Friday's court action comes as rooftops continue the rooftop business, said partner Max Waisvisz. feuding with the team, fueled by the start of the Cubs' $375 million overhaul overhaul of the historic stadium. stadium. The Cubs plan to install two video scoreboards scoreboards and four advertising advertising signs in the outfield as part of the upgrades. Many of the 16 rooftop clubs say the signs will put them out of business, but their threats to sue the team have so far been empty. They have accused the team of unfair negotiating negotiating tactics, including rearranging rearranging the location of the outfield signs to block views of rooftops that won't sell their businesses to the Cubs. A handful of owners remain in negotiations to sell to the team. The fate of some could change in coming coming days. George Loukas, who owns three rooftop clubs and has acknowledged that the Cubs hold the stronger negotiating hand, said Friday Friday he was still in talks about a sale. "We're still negotiating. We should know something something in the near future," he said. The rooftops and Cubs are in the middle of a 20-year 20-year 20-year deal signed in 2004 that requires the rooftop clubs to hand over 17 percent of their revenues revenues to the team. In recent recent years, the Cubs' share of rooftop revenue has been $3 million to $4 million million annually. A handful of rooftop owners sued the city of Chicago and the Commission Commission on Chicago Landmarks Landmarks in August, arguing that proposed outfield signs would violate an ordinance ordinance protecting Wrigley Field's historic features. They filed an amended complaint Thursday, including including allegations against the team of strong-arming strong-arming strong-arming the rooftop clubs in negotiations, negotiations, echoing concerns that were made by their attorney during a December December commission meeting. jahopkinstribpub.com Twitter jaredshopkins

Clipped from
  1. Chicago Tribune,
  2. 10 Jan 2015, Sat,
  3. Main Edition,
  4. Page 1-10

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