Lest you start thinking this old theater fits your idea of a bachelor pad, it's zoned commercial. But it's the kind of space—ostensibly built for Charlie Chaplin (so goes the rumor)—that lends itself to visionary uses. Purchased in 2007 by Andersonville artist Rosario Rosi, his extensive transformation has steered the space toward public gallery and private studios. According to a year-old article in Edgewater Buzz and the comments that followed, Rosi has spent roughly $2M on the space partly thanks to unforeseen structural problems. And he had been struggling with securing a loan. As it stands, the property is 90% restored and now listed for sale. The ask is $999K. According to the listing, you "can finish this project to your specifications with minimum effort." Well, that all depends doesn't it? Were you to return it to use as an auto body shop or taxi company headquarters, there's no need to get fussy. But say you're inclined toward offices, high tech startups, or theatrical use. That'll take some big time bucks.
The 1918 building offers up to 12,000 usable square feet, an enormous open space with vaulted ceiling, and the option to lease a portion instead of buying whole. One curious discrepancy we set out to solve (awaiting reply) is why Redfin has the property listed new under a Glenwood Ave address and for potential residential conversion.
·Listing: 5757 N Ridge Ave. [VibeRENT/Coldwell Banker]
·Tour of the Mysterious Building at Ridge/Glenwood [Edgewater Buzz]