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FOR SALE 

Chicago’s iO Theater for sale

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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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FOR SALE BY OWNER 

iO Theater of Chicago is for sale, a sad week for Chicago comedy

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At the end of what has been a stunning week for Chicago comedy and improvisation, the venerable iO Theater announced Friday that it, too, has put itself up for sale.



a group of people standing in front of a brick building: Theater-goers line up for the grand opening of the iO Theater, at 1501N. Kingsbury St., in Chicago in 2014. The theater had moved from its previous Wrigleyville location.

© Nuccio DiNuzzo / Chicago Tribune / Chicago Tribune/Chicago Tribune/TNS
Theater-goers line up for the grand opening of the iO Theater, at 1501N. Kingsbury St., in Chicago in 2014. The theater had moved from its previous Wrigleyville location.

The announcement came just days after news that its much bigger rival, Second City, declared itself also to be on the block.

The iO (once ImprovOlympic) only dates to 1981, as compared to 1959 for Second City. Nonetheless, both theaters are privately held, for-profit operations that share a parallel history, rivalry and centrality in the history of American comedy, along with associations with now-famous talents like Tina Fey, Mike Myers and Amy Poehler and reputations for making stars of the entertainment

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FOR SALE 

Second City Comedy Theater For Sale For 2nd Time In 60 Years

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CHICAGO, IL — Chicago’s Second City comedy theater — where performers including Bill Murray, Steve Carell and Jordan Peele honed their skills — has been put up for sale.

In a statement released Tuesday, co-owner Andrew Alexander said a sale presents the opportunity for Second City to succeed well into the future.

“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 in an increasingly complex world,” Alexander said in the statement released by Los Angeles investment bank, Houlihan Lokey, which is advising Second City’s owners on the sale.

Privately held throughout its 61-year history, Second City suspended all its shows and classes in early March until further notice due to the COVID-19 pandemic. Second City also faced controversy

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FOR SALE 

Second City comedy theater for sale, 2nd time in 60 years | National News

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Second City comedy theater for sale, 2nd time in 60 years

FILE – This March 6, 1982, file photo, shows the home of the famed improvisational troupe, Second City, in Chicago’s Old Town section. Chicago’s Second City comedy theater is up for sale. The sale, announced Tuesday, Oct. 6, 2020, is the second in the company’s 60-year history.



Fred Jewell


CHICAGO (AP) — Chicago’s Second City comedy theater — where performers including Bill Murray, Steve Carell and Jordan Peele honed their skills — has been put up for sale.

In a statement released Tuesday, co-owner Andrew Alexander said a sale presents the opportunity for Second City to succeed well into the future.

“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 in an increasingly complex world,” Alexander said in

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FOR SALE BY OWNER 

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

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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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FOR SALE 

Second City comedy theater for sale, 2nd time in 60 years

[email protected]_84 , , , , , ,

CHICAGO (AP) — Chicago’s Second City comedy theater — where performers including Bill Murray, Steve Carell and Jordan Peele honed their skills — has been put up for sale.

In a statement released Tuesday, co-owner Andrew Alexander said a sale presents the opportunity for Second City to succeed well into the future.

“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 in an increasingly complex world,” Alexander said in the statement released by Los Angeles investment bank, Houlihan Lokey, which is advising Second City’s owners on the sale.

Privately held throughout its 61-year history, Second City suspended all its shows and classes in early March until further notice due to the COVID-19 pandemic. Second City also faced controversy

… Read More Read more
FOR SALE BY OWNER 

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

[email protected]_84 , , , , , ,

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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FOR SALE BY OWNER 

Medical offices proposed for Timberlyne Chapel Hill theater

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The Regal Timberlyne movie theater opened in 1993 at 120 Banks Drive near the Timberlyne Shopping Center in Chapel Hill. The theater has been closed since March because of the state’s COVID-19 restrictions.


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One of Chapel Hill’s last chain movie theaters might not reopen post-COVID if a Cary developer moves ahead with plans for a new medical office.

Regal Timberlyne, which opened in 1993, is one of 18 Regal Theatre locations in North Carolina. Other Triangle locations are in Raleigh, Cary, Garner and Apex.

The six-screen, 1,350-seat theater, located at 120 Banks Drive near the Timberlyne shopping center, closed in March when the state shut down to stem COVID-19 infections. The state has not yet lifted its restrictions on movie theaters.

Online postings show Foundry Commercial had listed the theater property for sale in January. Cary-based Parkway Holdings Phase 2 LLC plans to close on the

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FOR SALE BY OWNER 

Chapel Hill movie theater for sale. Here’s what the pending owner plans for the site.

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One of Chapel Hill’s last chain movie theaters might not reopen post-COVID if a Cary developer moves ahead with plans for a new medical office.

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Regal Timberlyne, which opened in 1993, is one of 18 Regal Theatre locations in North Carolina. Other Triangle locations are in Raleigh, Cary, Garner and Apex.

The six-screen, 1,350-seat theater, located at 120 Banks Drive near the Timberlyne shopping center, closed in March when the state shut down to stem COVID-19 infections. The state has not yet lifted its restrictions on movie theaters.

Online postings show Foundry Commercial had listed the theater property for sale in January. Cary-based Parkway Holdings Phase 2 LLC plans to close on the property in December, so it’s unlikely the theater will reopen, Parkway Holdings manager Eli Zablud said.

Regal Theatre officials did not return a phone call seeking comment.

Parkway Holdings representative, TMTLA Associates, submitted a concept

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FOR SALE BY OWNER 

Bow Tie Cinemas has put its Movieland at Boulevard Square property up for sale; owner plans to continue to run theater complex | Business News

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The Movieland complex reopened on July 1. Attendance has been growing since, Masher said.

The family-owned Bow Tie has retained commercial real estate brokerage CBRE as an adviser in the sale or redevelopment of the property. Andrew Ferguson and Eric Williford are listed as the brokers.

“The property and neighborhood are benefited by the central location fronting Arthur Ashe Boulevard and encompassing Bow Tie Cinemas’ Movieland, with immediate access to major interstates, apartments, breweries, restaurants, entertainment venues, grocery stores and high-profile corporate office users,” according to CBRE’s promotional flyer on the property.

The flyer promoting the sale of the property does not list an asking price.

The 16.93-acre property is divided into two parcels.

The 11.05 acres is used for the Movieland and Criterion Cinemas buildings and the parking lots. That parcel is assessed at $18.098 million, according to the city’s online real estate data.

It is owned by BTP

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