Wrigley Field designated as a National Historic Landmark

The status gives the Ricketts family access to federal income tax credits.

The Cubs’ iconic Wrigley Field has been designated a National Historic Landmark, the team announced Thursday.

The status gives the Ricketts family that owns the Cubs access to federal income tax credits, Jesse Rogers of ESPN reported. The Ricketts ownership group funded what was around a $1-billion renovation of Wrigley Field that started after the end of the 2014 season and has since been completed. Wrigley Field was built in 1914.

Wrigley Field had applied for landmark status back in 2013, but the approval of its designation wasn’t going to come until the renovations were complete, ESPN reported.

National Historic Landmarks "are historic places that hold national significance" and are "exceptional because of their abilities to illustrate U.S. heritage." They're designated by the Secretary of the Interior.