Wheaton Grand Theater Listed for $599,000
Bank lists Wheaton Grand Theater, 119-127 N. Hale St., with Century 21 Real Estate for $599,000.
Suburban Bank and Trust has entered an agreement to list the Wheaton Grand Theater with two former Wheaton residents for $599,000, commercial banker Rob Siegel said Friday.
Cousins Dave Brumfield and Noel Williams, both with Century 21, will market the property at 119-127 N. Hale St. locally, regionally and nationally and also explore a land development option, said Siegel.
"Hopefully with them at the rein, we'll have some success," he said.
After a developer's contract on the property fell through last month, "We decided it would be best to enter into a professional real estate broker," Siegel wrote in an email.
Wheaton Mayor Mike Gresk told Patch in March that the future of the theater "comes down to the money." He said previous potential buyers have not been able to come up with the funds for the 1925 theater.
The future of the 1925 theater has been a topic of discussion and debate since it closed in the late 90s. The theater showcased vaudeville performers and silent movies when it first opened. On opening day, May 25, 1925, there was a showing of a romantic drama, "The Dressmaker from Paris," starring Sally Rand.
Voters decided against an advisory referendum last spring, which asked whether the city should contribute taxpayer money for the restoration and operation of the theater.
A Space In Time
4:43 pm on Friday, May 11, 2012
The Wheaton Grand Theater is worth exactly nothing, Zero dollars. In fact, given the astronomical renovation cost the owners should pay someone to take the 1925 theater off their hands. Since that probably won't happen, the owners should donate it to the city and take a tax write off. Of course you have to wonder if the City of Wheaton would be blind enough to take the obvious money pit.
I fail to see the fascination with this rundown former movie house. Consider this: When people talk about the future they usually point to all the new things that will come to pass. However, the evolution of the human society is as much about old things disappearing as new things appearing. This means it is particularly useful to consider everything in our lives that is likely to become extinct. The Wheaton Grand's day has come and gone.
Jerry
9:15 am on Saturday, May 12, 2012
With that kind of thinking theaters such as the Chicago Theater and the Paramount Theater in Aurora would be gone.
A Space In Time
10:23 am on Saturday, May 12, 2012
@Jerry
Then feel free to pour your own money into restoring the theater. Just don't ask the taxpayers to bail out someone else's desires.
Jerry
10:40 am on Saturday, May 12, 2012
I agree with your bail out statement. That's why it was no surprise when the referendum went down last year.
Keith Reily
11:54 am on Sunday, May 13, 2012
On the day the potential buyer made an offer, the daily herald reported that Rick E of Wheaton, was just about to make an offer, yet did not want to enter into a bidding war.
Well since that offer fell through, I would like to ask all the interested, yet non paying individuals to please support the next potential purchaser to use the property as they want and can afford.
The look of a 1925 Theater is great, yet if not practical and the extra cost involved is holding someone back then a profitable and decent looking building and its business would be better than a vacant theater.
Plus, let me say in advance to the illustrious, T.M. before he states his often used one line response, "been to any City Council Meetings lately"? Yes, yes I have and I have met you!
ag
3:37 pm on Monday, May 14, 2012
@ A Space in time
How long have you lived in Wheaton? Maybe that would explain your opinion of the old theatre. I agree the building needs a lot of work, but it wasn't that long ago that people actually were seen walking the city streets downtown on nights waiting to get in to see a show. People didnt seem to care that it needed a lot of work even back than. It was all part of the experience and it was kinda fun. Who needs something luxurious. Simplicity rules the day and not all of us think our crap doesn't smell.
SR
1:34 pm on Wednesday, June 20, 2012
Things such as the Wheaton Theater should be preserved. They are historic! Why do we continue as a society to tear down stuff that has historic significance?
Its what gives your town character. This is one of the reasons cities like Chicago are great. They choose to restore places instead of tearing them down.
Don't tear down things that give your town history. They should be preserved for future generations to enjoy and learn from.
John Mihas
2:38 pm on Wednesday, June 20, 2012
SR why don't you step up to the plate and pay for the Wheaton Theater. Otherwise the residents have spoken with a big NO.
SR
3:02 pm on Wednesday, June 20, 2012
So what do you want to do, tear down the Wheaton Theater and then spend more money in tax dollars to support a new building?