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The Citgo Sign: A Beloved Boston Icon's Rental Dispute

Photo: Keith Bedford, Boston Globe StaffA somewhat peculiar Boston icon the neon Citgo sign in Kenmore Square is at the center of a rental stalemate, according to the Boston Globe.A request to make the sign an official city landmark is being reviewed by theBoston Landmarks Commission.In the meantime, the rooftop of the building that the sign sits on was purchased last fall by developers Related Beal. The owners of the sign,Citgo Petroleum Corp., have been renting the space at below market rate for several years, but Related Beal is ready tocharge more. So far they have not come to an agreement on what is fair.Related Beal has had the space appraised to determinemarket rate:

We are in active good-faith negotiations with Citgo and have offered them a long-term lease at significant discount to market as determined by an independent third-party appraisal, Related said.

Back in October of 2016,there was talk of the sign being moved to a different spotin Kenmore Square once Related Beal redeveloped the buildings it bought on that block.Read the Boston Globe's A Big Fight is BrewingOver Boston's Iconic Citgo Sign.Read A Brief and Stormy History of the Citgo Sign.Are you planning to relocate to Boston, and thinking about where to live?Are you in the market tobuya condo or home inBoston? Heres myoverview of Boston real estate byneighborhood.In my 25 years in the Boston real estate market, I have helped hundreds of people buy and sell Boston condos and homes. If you need assistance, or if you have questions about buying or selling Boston real estate, please dont hesitate to call me at617-584-9790.You can alsoemail me by clicking the button below. Boston real estate 

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