Loews Cineplex Theatre Up For Auction
STREAMWOOD, IL — In other Chicago-area theater news, the former Loews Cineplex Theatre in Streamwood, IL will be sold at auction on Dec. 19, according to an article in Tuesday’s Daily Herald.
Since the opening of a megaplex in nearby South Barrington that features stadium-style seating and enhanced sound, the Loews Cineplex has faced stiff competition for moviegoers' interest. So much so, in fact, that parent company Loews Cineplex now wishes to rid itself of the theater completely.
According to auctioneer Alan Krevts, the opening bid for the Loews Cineplex is set at $2.2 million, although it is unknown at this time how many potential buyers are interested in the property.
(Thanks to Bryan Krefft for both of today’s stories!)