CHICAGO (CBS) — Ground has officially been broken on the massive renovation of 100-year-old Wrigley Field.

WBBM’s Mike Krauser reports the atmosphere at Wrigley Field had the feeling of baseball in October, and that wasn’t lost on Cubs President of Baseball Operations Theo Epstein.

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“You can’t be here on a day like this with the sun shining in October without closing your eyes for a split second and dreaming about October baseball here at Wrigley,” Epstein said.

Outgoing MLB commissioner Bud Selig, standing at a podium set up in the infield, recalled his first visit to the 100-year-old ballpark.

“I saw my first major league game here in May of 1944, when I was a few months shy of my 10th birthday,” Selig said. “Wrigley Field took hold of a special place in my heart right then and there.”

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Mayor Rahm Emanuel noted the $375 million renovation ($575 million when projects outside the ballpark are included) is not coming out of your pocket.

“I am so proud that this is privately financed,” Emanuel said.

Cubs chairman Tom Ricketts promised better teams and championship baseball.

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The renovation project is being called the “1060 Project” for the address of Wrigley Field, 1060 W. Addison.