July 29, 2008

Uptown Theatre Sale Coverage from Chicago Neighborhoods

Historic Uptown Theatre sold

Shuttered since 1981, the 83-year-old Uptown Theatre has finally found a buyer. And thankfully it's one that plans to restore the building to the quality venue it was in its heydey. The legendary Balaban and Katz company constructed the building at 4816 N. Broadway to serve as a movie theater, the largest in the United States with 4,381seats, from 1925 through the 1960s. Then it became a music venue and stayed that way throughout the 70s, until it was shut down due to a series of maintenance problems. And if the new owners are any indication, the newly restored Uptown Theatre will once again pack in music fans rather than movie buffs.

Jam Productions, the same company that owns Lincoln Park's Park West, Lakeview's Vic and Uptown's Riveria music venues, bought the historic theater on Tuesday for $3.2 million, following a forced foreclosure sale of the property. Though some suspected that there would be multiple bidders battling for the theater, Jam ended up putting the only offer on the table...

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