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Is The Congress Theater (Finally) Changing Hands?

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The long embattled owner of the crumbling 88 year old Congress Theater has finally given up the fight. After a lengthy track record of aggravating neighbors, its inability to provide proper security to concert goers, foreclosure threats and its numerous run-ins with the City Council for a wide variety code violations, WBEZ reports that the theater's sale is currently pending to the developer of the Cadillac Palace. The dilapidated Congress Theater is believed to need $20 million in repairs and could take years to restore. The sale of the 4,500 capacity theater is not likely to be cut and dry as two production companies are claiming the right of first refusal for the decaying building. However, one thing that is certain is that there could be no one in the City Council happier than Alderman Moreno to see the Congress Theater change hands.

· Sale Of Congress Theater Pending [WBEZ]
· Preservation Watch: Congress Theater [Curbed Chicago]