Wrigley Field has been designated as a National Historic Landmark. The Chicago Cubs announced the news in a tweet on Thursday. Cubs’ ownership applied for the federal status seven years ago.

So what does this status mean? Well, certain renovations to landmarks can qualify for tax credits. Handy, since Wrigley Field recently received about $1 billion in upgrades. At 106 years old, Wrigley Field is the second-oldest ballpark in Major League Baseball, behind Fenway Park.

Cover Photo Courtesy Of Quinn Harris, Getty Images