Chicago's Christmas tree from Logan Square heading to Millennium Park

CHICAGO (CBS) — Chicago's official Christmas tree was cut down Friday in Logan Square on Friday. 

This year's tree is a 53-foot Colorado blue spruce donated by the Holden-Shaddick family, and it will make its way to Millennium Park. 

The owners say the tree was planted almost 50 years ago by the home's previous owner, Jim Mulligan. Mulligan worked for the city and is being honored with a street sign. 

Mulligan's daughter said she was "in tears" when she found out her father's tree was selected. She said her father was a staple of Logan Square. 

"His name is always going to be tied to this; it's going to be a memory; it's going to be something everybody knows," Mulligan's daughter said. "It's always going to carry his name with it. I just love that this is happening." 

"I think its cool because that's going to be my tree that was in my backyard," a Holden-Shaddick family member said. 

CBS News Chicago's Irika Sargent and Joe Donlon will host Chicago's tree lighting ceremony.