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Chicago & Midwest  + South Side  + Retail  | 

Bridgeport Movie Palace Could Be Reborn as Live Venue

The long-disused Ramova Theatre in the South Side’s Bridgeport neighborhood would undergo a $22.9-million renovation under a plan tentatively backed by the Lightfoot administration. The renovation would turn the 90-year movie house into a live entertainment venue and, Ald. Brian D. Thompson hopes, a catalyst for economic development.

“The theater has been a liability for the city, but it could really become something that’s positive,” Thompson, who represents the 11th Ward, told the Chicago Sun-Times. “I think it will spill over to other improvements.”

The city bought the theater for $285,000 in 2001 and has spent $364,000 on urgent repairs over the years, hoping for a viable offer that would save it, the Sun-Times reported.

Seating capacity at the 1,500-seat Ramova would be increased to 1,800 under the renovation plan. Along with gifting the site to the developers, the city would provide up to $6.64 million of tax increment financing.

Read more at Chicago Sun-Times

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

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