Uptown in the News
January 9, 2008
Live Nation Inc., the concert promoter that manages the outdoor performance stage at Northerly Island, is negotiating with city officials to take over the landmark Uptown Theatre, 4816 N. Broadway.
The 1925 building has been mostly unused for 25 years. But Live Nation is said to be interested in restoring it to its former glory and using its 4,300 seat auditorium for concerts and other events.
Possible hitches – and there are many – include a city subsidy for what could be a $40 million restoration. Also, the city has a lien of at least $1 million on the property because of emergency repairs it had to order on the building. The City Council has given Mayor Daley’s administration authority to acquire the Uptown via condemnation,
City Hall and Live Nation had no immediate comment. Ownership of the Uptown is a matter of litigation.
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