Historic Uptown Theatre sold

July 29, 4:37 PMChicago Neighborhood ExaminerDana Kavan

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Courtesy of Chicago Real Estate Daily /Photo by Erik Unger

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 heyday. 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 Riviera 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.

Without a doubt the restoration of the theater, which was designated a Chicago landmark in 1991, will increase the appeal of Uptown's booming nightlife scene. In the past couple years, the corner of Lawrence and Broadway has attracted new restaurants, like the upscale Indian spot Marigold and the Ethiopian eatery Demera. A sport-oriented gay bar Crew also draws crowds to the intersection, as do the retro digs and classy drinks at Fat Cat. And soon, on top of being able to boogie all night to jazz at the Green Mill or rock out at the Riviera, Uptown residents and visitors will have another entertainment outlet at their disposal.