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.

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. Click to sign up for the Wheaton Patch newsletter 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 "…

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Prospective Buyer Withdraws Bid for Wheaton Grand Theater

Developer withdraws from deal to buy the Wheaton Grand Theater in downtown Wheaton after determining it'd be too costly to complete its vision for the property.

The prospective buyer of the Wheaton Grand Theater has opted out of the purchase, after realizing the cost to complete the vision for the property would be too high, a Suburban Bank and Trust banker said Wednesday. The bank-owned theater at 119 Hale St. in downtown Wheaton is "back on the market," said commercial banker Rob Siegel, who manages Other Real Estate Owned (OREO) at Suburban Bank and Trust, the bank that owns the property. Wheaton Mayor Mike Gresk told Patch March 21 that the buyer is a local developer, who was in a 45-day due diligence period to crunch numbers and determine whether they would proceed with the sale. Click to sign up for the free Wheaton Patch newsletter Siegel said the potential buyer had planned to use the …

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Potential Buyer Interested in Wheaton Grand Theater

Historic building in downtown Wheaton may have a buyer, the Daily Herald Reports.

The Wheaton Grand Theater may have a buyer, the Daily Herald reported Wednesday. Wheaton Mayor Mike Gresk told the Herald the prospective buyer envisions an office or retail building for the property on Hale Street. "The good news is it's a local developer, I think he has an appreciation for the building itself," Gresk told Patch Wednesday. "We're all keen to have this back on the tax rolls." Jim Kozik, director of economic development for the City of Wheaton said the potential buyer is currently conducting due diligence on the property. Gresk said the prospective buyer is currently in a 45-day due diligence period, and is adding up his numbers to decide whether he wants to—and can afford to—go through with the deal. A banker at the …

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