Wheaton Grand Theater: Deal "Progressing," No Signed Contracts

A downtown Wheaton property owner is "still progressing" with plans to buy the Wheaton Grand Theater.

Jim Atten, owner of Atten Real Estate, said Monday he should know more about the deal by the end of the month.

David Brumfield, one of two Century 21 listing agents of the bank-owned property said he is currently waiting on contracts for the theater, after some revisions in the past couple of weeks.

Keep up with local news. Sign up for our free daily newsletter. Then, like us on Facebook.

Atten and the theater's seller, Suburban Bank & Trust of Elmhurst earlier this month reached an "agreement of principle" for a deal, said Wheaton Mayor Mike Gresk, who attended the Oct. 5 meeting.

The Wheaton Grand Theater, 119-127 N. Hale St., went on the market last spring, listed by Century 21 for $599,000.

Rick Erickson, owner of Bold Steps, Inc. in Wheaton and leader of public talks on the future of the 1925 theater, said more than 35 people met at Ivy last Friday to discuss the property. He said Atten toasted "step one"—getting a local person to own the property. He said the next step is to come up with a vision for the property.

Atten has gone through a long process of getting the "stars to align," Erickson said earlier this month, after the bank turned down Atten's previous offer on the theater.

What do you think should open in the Wheaton Grand Theater building? Tell us your ideas in the comments.

Related articles:

• Prospective Buyer Withdraws Bid for Wheaton Grand Theater
• Potential Buyer Interested in Wheaton Grand Theater
• Al Hollenbeck's Letter to the Editor: Vote Yes on Wheaton Grand Theater
• 1925 Theater Looks for a Second Act in 2011
• City Council Candidates Weigh in on Theatre Referendum
• City to Include Advisory Referendum for Wheaton Grand Theatre on Ballot in Upcoming Election
• City Withholds Payment to Grand Theatre Consultant
• Chamber Member Reaches Out to Community to Take Action Toward Restoration of Wheaton Grand Theater