CHICAGO—The Chicago Landmarks Commission has signed off on the Chicago Cubs’ proposal to install large outfield video screens as part of its $500 million privately financed plan to renovate the landmark ballpark and build a new adjacent hotel and plaza.

The Chicago Plan Commission will take up the overall renovation and area redevelopment plan this week then the City Council must approve it. The Cubs have called the signage key to generating the revenue needed to forgo public financial aid in paying for the renovations and other adjacent development.

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