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Lincoln Park’s iO Theater Trades to Marc Realty and Terraco
Greenstone Partners and Lord Companies sold the iO Theater building and development site located at 1501 N Kingsbury in Lincoln Park. The transaction also included the sale of the iO Theater business. The 32,000-square-foot building and 27,000-square-foot land site are located adjacent to the second highest grossing Whole Foods in the U.S.
Childhood friends Larry Weiner and Scott Gendell acquired the iO Theater through their respective companies, Marc Realty and Terraco. “The iO Theater Is a powerful global comedy brand with 40 years of rich history in Chicago,” said Gendell. “We want the brand to carry on for generations to come.”
Along with the business acquisition, the purchase of the real estate was individually attractive as a future development site based on the property’s strong location for both commercial and residential uses.
Danny Spitz of Greenstone Partners and Scott Fithian of Lord Companies represented the undisclosed seller.
- ◦Sale/Acquisition
