Chicago’s iO Theater for sale

Chicago’s iconic iO Theater, the longtime comedy hub on the North Side, is officially for sale.

The 33,500-square-foot, two-story complex at 1501 N. Kingsbury St., closed since March, is listed for $12,900,000. Also included in the sale is the iO brand.

In June, Charna Halpern, owner and co-founder of the company formerly known as ImprovOlympic, told the Sun-Times the revenue loss brought on by the March mandated shutdown of all theaters (and other non-essential businesses in Illinois) was the deciding factor for what was a temporary shut-down at the time.

The property includes four theaters, seven classrooms and two event spaces. It is zoned for office use, retail or a combination (flex) of the two.

“I’ve been approached by several developers who want to demolish the building, rebuild it as a flex property and bring the theater back as well,” said Malek Abdulsamad, a real estate broker for Compass Commercial

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Chicago’s famed Second City comedy theater is now fully up for sale

CHICAGO — In June, in an attempt to take the fall for internal turmoil, Andrew Alexander, the longtime co-owner of Second City, announced plans to remove himself from the famed comedy theater and put his share up for sale. On Tuesday, a Los Angeles-based investment bank put the whole institution up for sale. Second City is a mainstay of Chicago’s famed theater scene but also is a for-profit, live-entertainment operation devastated by a forced closure.

“What we are seeking is critical reinvestment in the business that will allow us to continue to grow in the right ways and with the right resources while remaining an oasis of speaking truth to power and providing vital human connection in an increasingly complex world,” Alexander said in a statement released by the bankers, Houlihan Lokey.

“I do think the plan to sell the whole company presents the opportunity for Second City to continue

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Chicago’s Second City for sale

Chicago’s legendary Second City, where such luminaries as John Belushi, Bill Murray, Dan Aykroyd, Tina Fey, Amy Poehler, Catherine O’Hara and Eugene Levy cut their comedic teeth, is for sale, its owners announced Tuesday.

It marks the second time in the comedy venue’s 60+ year history that it has been available for sale.

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        

 

Like other entertainment venues, The Second City — which has theaters in Hollywood and Toronto — suspended live performances in the wake of the COVID-19 pandemic. Within two months of Gov. J.B. Pritzker issuing stay-at-home orders last spring, Second City performers began producing improv and sketch comedy online.

“While all our lives have been affected by the pandemic, The Second City has found green shoots that have further highlighted our growth potential,” said Second City President Steve Johnston, in a prepared statement. “The company’s growth plan leverages Second City’s unique position in the comedy ecosystem as the

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Chicago’s famed Second City comedy theater is now fully up for sale

In June, in an attempt to take the fall for internal turmoil, Andrew Alexander, the longtime co-owner of Second City, announced plans to remove himself from the famed comedy theater and put his share up for sale. On Tuesday, a Los Angeles-based investment bank put the whole institution up for sale in its entirety. Second City is a mainstay of Chicago’s famed theater scene but also is a for-profit, live-entertainment operation devastated by an enforced closure.



a person standing in front of a building: A man walks past the Wells Street entrance to Second City in Chicago in August. The famed comedy theater is now entirely up for sale.


© John J. Kim / Chicago Tribune/Chicago Tribune/TNS
A man walks past the Wells Street entrance to Second City in Chicago in August. The famed comedy theater is now entirely up for sale.

“What we are seeking is critical re-investment in the business that will allow us to continue to grow in the right ways and with the right resources while remaining an oasis of speaking truth to power and providing vital human connection

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Chicago’s The Second City Is For Sale: Report

Comedy institution The Second City is going up for sale, according to a report by Variety, as the coronavirus pandemic continues to take a damaging toll on performing arts in Chicago and around the world.



a stop sign at night: The iconic Second City stays closed during the “stay at home” order amid the COVID-19 pandemic on April 21, 2020 in Chicago, Illinois.


© Getty Images

The iconic Second City stays closed during the “stay at home” order amid the COVID-19 pandemic on April 21, 2020 in Chicago, Illinois.


Variety reports that this is only the second time in The Second City’s 60-year history that the company has gone up for sale.

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The originally Chicago- and Toronto-based improv theater was an early training ground for “Saturday Night Live” players including John Belushi, Dan Aykroyd, Gilda Radner and Chris Redd, among other comedy stars such as Keegan Michael-Key, as well as the company-produced “SCTV” TV series in the 1970s and ’80s.

The Second City’s offerings have grown over the years to include online classes, a collaboration with

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Chicago’s Second City comedy hub is for sale

The Second City, the Chicago improv comedy hub that launched the careers of a host of comedians, is for sale.

The sale, announced Tuesday, is only the second one in the company’s 60-year history. It said it has hired the investment bank Houlihan Lokey to provide advice in the sale.

“While all our lives have been affected by the pandemic, The Second City has found green shoots that have further highlighted our growth potential,” said Steve Johnston, president, in a statement. “The company’s growth plan leverages Second City’s unique position in the comedy ecosystem as the leader in both education and live sketch and improv performance to capture market share in the short to medium term, as well as accelerate a transition toward digital delivery of programming, which is already off to a great start.”

Live theater venues across the country have suffered immeasurable financial losses due to the COVID-19

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Creative placemaking could be the key to catalyzing real estate development on Chicago’s South Side. One success story is garnering international acclaim

CHICAGO — It’s no secret that some of Chicago’s 77 neighborhoods have suffered from a certain level of financial disinvestment, often systemic and spread out over decades.

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But one Chicagoan’s efforts to inject new enthusiasm and a sense of community, anchored by artistic and cultural endeavors, are attracting global attention — and similar efforts might be the key to stimulating more equitable real estate development on Chicago’s South Side, a new report suggests.

The report reflects three years of studying creative placemaking and the impact it has on communities. It comes from the Urban Land Institute, a global organization of real estate and urban development professionals dedicated to the responsible use of land in creating and sustaining thriving communities.

ULI reports that cities are finding success with the concept of placemaking, in which developers, designers, planners and investors come together to sync up their efforts in residential, commercial

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Creative placemaking could be the key to catalyzing real estate development on Chicago’s South Side. Here’s how one success story is garnering international acclaim.

It’s no secret that some of Chicago’s 77 neighborhoods have suffered from a certain level of financial disinvestment, often systemic and spread out over decades.



a person standing in front of a window: Dance instructors Daniel "Bravemonk" Haywood and Kelsa "K-Soul" Robinson on Tuesday, Sept. 22, 2020 at the Dorchester Art + Housing Collaborative.


© Brian Cassella / Chicago Tribune/Chicago Tribune/TNS
Dance instructors Daniel “Bravemonk” Haywood and Kelsa “K-Soul” Robinson on Tuesday, Sept. 22, 2020 at the Dorchester Art + Housing Collaborative.

But one Chicagoan’s efforts to inject new enthusiasm and a sense of community, anchored by artistic and cultural endeavors, are attracting global attention — and similar efforts might be the key to stimulating more equitable real estate development on Chicago’s South Side, a new report suggests.

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The report reflects three years of studying creative placemaking and the impact it has on communities. It comes from the Urban Land Institute, a global organization of real estate and urban development professionals dedicated to the responsible use of land in creating and sustaining thriving communities.

ULI reports that

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