Patio Theater To Be Sold, But Not to Portage Theater Owner
Portage Theater owner Eddie Carranza will not buy the Patio Theater, the broker handling the sale said Thursday. The 88-year-old former movie palace at 6008 W. Irving Park Road went up for sale in July 2014 for $2.9 million, three months after it closed because of a busted air conditioning system.
The 1,500-seat single-screen movie theater, 18 apartments above the theater and 11 street-level shops and offices were all up for sale.
The theater, which many see as the linchpin in efforts to revitalize the Irving Austin Business District, where business owners are trying to bring new life to the edge of western Portage Park, is under contract to another buyer, Weber said. Weber declined to reveal the identity of the theater’s new owner. The sale is expected to be complete later this month, he added.
Read More of Heather Cherone’s article here: http://www.dnainfo.com/chicago/20151009/portage-park/patio-theater-be-sold-but-not-portage-theater-owner-eddie-carranza
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