Cubs chairmen Tom Ricketts and his sister Laura were also on hand at Clark Park behind the school for the dedication.The $5 million project is funded by the Wood Foundation, Cubs Charities, Chicago Public Schools, the City of Chicago and Turner Construction.
The project should be completed by next April in time for the Public League season.
"This is what our Foundation is about," Wood said. "This stadium will be for all age groups to play in. We have Little League fields, but we didn’t have a place for bigger kids to play.We are going to run clinics here and the city will use it for different things."
Wood, who retired in May, is not sure what he wants to do with the Cubs, but he has ruled out broadcasting.
"I will have a role to some degree," he said. "What it will be I don’t exactly know right now.
"After my leave of absence I was able to enjoy the summer with my family, but I’m back to the point I want to get back to work. I know I don’t want to go up in the booth – I don’t want to do radio or TV. I don’t want to coach because of the travel. My kids are two, four and six. That was part of the reason that it was time to hang it up."
When Wood returned to the team at a discounted salary in 2011, Ricketts told him that he would have a job for life with the team.
"The Ricketts have been great, as has Theo (Epstein) and Jed (Hoyer), so I am sure they will find something for me to do."