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