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City Will Sell Highland Park Theater

Group which hoped to renovate historic theater pulls out of deal with City.

The Highland Park Theater will be sold with no restrictions to keep it an entertainment venue.
The Highland Park Theater will be sold with no restrictions to keep it an entertainment venue.

The city owned Highland Park Theater will be sold with no restrictions after the Alcyon Foundation withdrew its bid to renovate it last week as a multiuse entertainment venue, according to a statement by Mayor Nancy Rotering at Monday’s City Council meeting.

Rotering told those in attendance at the meeting the Council made its decision in a closed session earlier Monday. The City closed the theater nearly two years ago after potential safety concerns came to its attention.

“The City has exhausted numerous efforts to redevelop the property in a way that meets the goals and desires of the community, reduces the financial burden placed on residents, and complements the business community,” Rotering said.

The City has gone through two sets of invitations to potential buyers who would maintain the theater as some form of entertainment venue as at least part of its proposal. The latest round produced a memorandum of understanding with the Alcyon Foundation Oct. 28 to turn the building into a multi use facility concentrating on entertainment. It was set to expire Friday.

“There was insufficient financial support for the development of a mixed use venue, and they (the Alcyon Foundation) could not secure the necessary financial commitment to advance the capital campaign for the long term operation of the theater,” Rotering said.

This latest turn of events means any potential owner of the theater can proceed with any operation which is within the City’s downtown zoning requirements. The sale may include the city owned parking lot to the immediate east of the building.

“City Council has agreed to sell the property as a clean sale with no restrictions on the property,” Rotering said. The adjacent parking may be considered as part of the revitalization or redevelopment of the property.”

In other action, the Council unanimously approved an ordinance requiring owners of residential rental properties which do not come under normal inspection requirements to register with the City and pay a $30 per unit fee.

The Council also approved the sale of $10 million in bonds to finance the completion of the renovation of the Water Treatment Plan. Patch will have more detailed stories on these issues and other matters considered by the Council later this week.

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Highlands HP'er January 30, 2014 at 11:42 AM
http://www.zillow.com/homedetails/2021-Saint-Johns-Ave-APT-P3-Highland-Park-IL-60035/54868388_zpid/ Here is your example
The Voice of Highland Park January 30, 2014 at 01:10 PM
Dan Cox, I thought your from 593 W Galeton Dr. in Round Lake. Why all the interest in Highland Park?
AK January 30, 2014 at 02:09 PM
Highlands, you are very important. I liked your comments about Chinese food.
Benny G. January 30, 2014 at 02:23 PM
HP'er, thank you for that link. That is the perfect comp. Those units sold out "pre-build." AK, did you read HP'er's posts? He has it nailed down. They sell those units like popcorn all day. You must have grown up in a tenement flat in Rogers park, huh. I grew up in HP, on the lake...LOL
AK January 30, 2014 at 03:17 PM
Benny, you are clueless. So is Highlands.
AK January 30, 2014 at 03:20 PM
Benny, you moron should concentrate on discussing Carly.
Highlands HP'er January 30, 2014 at 03:43 PM
AK- Uhh I think you are clueless. There is a lot of money in the hands of an aging population in Highland Park. Many of these wealthy retiring types want to move to warmer climates (however not give up their residency in the Chicago area since this is where their children/grandchildren are). What kind of home do you think fits perfectly for an retired person with a lot of money who wants to maintain residency in Chicago and somewhere else? A condo... The condo lets them worry less about maintenance and security. These are people who don't live in 1300 sqft condos either. These are people who require space for the maid's quarter and a certain life style they've grown accustomed. These are people who don't buy units on a floor.. they buy the whole floor.
Dan Cox January 30, 2014 at 04:07 PM
Hp'er... havent the old codgers died yet? We need some of that Obama wealth dispersment, let the kids have that money so they can keep on living like spoiled brats.
AK January 30, 2014 at 04:53 PM
Highlands, you see Benny knows he is moron, so he made a splash, then disappeared. I really liked your comments in Jay Lovell's store article. But you are making a clown of yourself.
Highlands HP'er January 30, 2014 at 06:28 PM
I guess a "gun range" is a more realistic venture....?
AK January 30, 2014 at 07:45 PM
Unfortunately, I am not well equipped with economics of shooting range, but I suspect Dan could get in touch with right people. Maybe Stu and Dan can give a shot by themselves if they know the biz. Maybe Moe. If someone wants my money and ideas I am in with both hands. Great niche, will be very profitable, nice income for City of HP. Women love it. Win win for everyone.
Highlands HP'er January 30, 2014 at 11:24 PM
I actually think you guys are on to something. I think you guys should pursue this. Don't cheap out either. Make it nice. You have to spend money to make money.
Stu Pidasso January 30, 2014 at 11:29 PM
Since it was paid for with TAXPAYER dollars, why not convert the Shooting range on Rte. 22 to an income producing venue. The cops could reserve a day or two a week for their practice and the other days could be used for citizen practice and tournaments that would produce needed revenue for the CITY!! We do have a right to use it since we the TAXPAYERS PAID for it!!!
Highlands HP'er January 30, 2014 at 11:38 PM
Stu- Not sure how much revenue it would bring... but it's actually a good idea. Maybe if they limited it to Hp residents or something. It'd be a good place to teach skills classes and allow the police to interact with citizens.
Benny G. January 30, 2014 at 11:45 PM
AK said: January 30, 2014 at 03:20 PM "Benny, you moron should concentrate on discussing Carly." Good sentence AK. You are an illiterate as well. That is called a "run on" sentence. All AK wants to do is masturbate about a gun range with Dan Cox, Moe and and Stu. The four biggest idiots on these threads. At least Moe has an excuse; alcohol. So what would work on the Alcyon site AK? Oh yea, you only know Rogers Park tenement living...LOL
Benny G. January 30, 2014 at 11:48 PM
Dan Cox said: January 30, 2014 at 04:07 PM "Hp'er... havent the old codgers died yet? We need some of that Obama wealth dispersment, let the kids have that money so they can keep on living like spoiled brats." Spelling and punctuation are not the "long suit" of a plumber...LOL. Dan, spare us what you THINK you know about Highland Park and the inhabitants. You could not possibly sound any dumber at this point.
AK January 31, 2014 at 11:05 AM
Benny, u should run for old fart preservation commission.
Benny G. January 31, 2014 at 02:53 PM
AK said on January 31, 2014 at 11:05 AM "Benny, u should run for old fart preservation commission." AK, you are a blathering imbecile. Please bring something cogent to the discussion. Your turn.
AK January 31, 2014 at 03:55 PM
Benny, I am very knowledgeable about condos and you are clueless. The size that I posted is really near 1600 SF, but I had to simplify it for moron like yourself, because this is how you would measure. This is the right size, the one that will actually sell, but will likely bring no dough to the developer. The shooting range idea is great and such joint will provide multiple revenue streams. Why are you you such brainless arse is not my problem, but I am not surprised.
Benny G. January 31, 2014 at 05:01 PM
AK, you are an illiterate bumbling blathering buffoon. So your 1,300/SF tenement is now 1,600/SF, which is still the wrong size, so I could understand it? You bumbling imbecile. You, Moe, Dan Round Lake Cox and Stupidarsehoe, the four biggest idiots on these threads. Every time you type something, it just reinforces this fact for all to witness.
Stu Pidasso January 31, 2014 at 05:08 PM
and you make the Fifth!!!! :)
Highlands HP'er January 31, 2014 at 05:34 PM
AK- Do you know anything about the costs of running a business? Assuming the village even allowed a gun range there... Expect to spend anywhere around $1 million to $1.5 million just to get the initial building (300k to acquire the building and the rest in renovation). You will have to add concrete blocks and bullet proofing. Bullet trap systems. Ventilation. Not to mention the buildings egress problem STILL needs to be resolved. You will then likely need 150k for startup costs (furniture, inventory, office supplies) Then plan on spending 3-5k a month on employees, expect to pay a lot for liability insurance, as well as some other monthly costs for operating a general business. You would likely end up with a loan payment in the real of $15,000-$20,000 a month just to get started (assuming a bank would even extend you the credit). So you would end up with something in the realm of $20,000-$30,000 a month in costs before profits even came in. You would likely need to bring in around $50,000 a month in profit to make it worth your while. Add in to your business problems the fact that you would be entering in to a business highly subject to government regulation and the whims of lawmakers. (believe you me.... bankers would price this in to your loan). If my numbers seem outlandish: http://www.nssf.org/ranges/rangeresources/library/detail.cfm?filename=facility_mngmnt/design/range_and_biz.htm&CAT=Facility%20Management Pay special attention to the part where he says "we have 1.2 million invested"
AK February 01, 2014 at 10:11 AM
Highlands, consider it the new movement in town f'd by local bennys and communist zombies for a long time. No one know show you come up with your numbers and you are giving me a headache with your nonsense figures. If I can buy it for 300K I will gut it for another 100K, throw in 2 retail condos on the ground floor and elevator, build 4 floors with 2 per floor via "benny old fart style" and make a tandem space attached garage off the alley as worst case. And I won't need any side lot. Bla bla bla bla bla bla bla.
Benny G. February 01, 2014 at 02:52 PM
AK, it's not a new movement. It's a real estate play in Highland Park and what would be highest and best use. Are you that ignorant to understand that or will you continue to posit forth your gun range nonsense? I am trying to figure out if you are simply that obtuse or really that ignorant. I am thinking more the latter than the former.
Benny G. February 01, 2014 at 02:57 PM
For Christ sake it's not a rehab/remodel it's a TEAR DOWN and rebuild new construction you imbecile...It's not a "gut it," it's a DEMO IT. Demo cost would be in the 100k range barring any asbestos removal so you have that number correct amazingly enough. With higher density zoning the property will generate MORE than $300k for a purchase you idiot. Add the adjacent lot into the zoning and the city can likely recoup somewhere near what they have into it as well. The value of the property is directly proportional to the density and zoning they will allow on it. Is that too difficult to grasp?
AK February 01, 2014 at 04:04 PM
Benny, I always have all my numbers amazingly correct. Are you some old schizophrenic? Some local aristocrat or is it more towards degenerate? Why are you bothering me anyway? It is about time to have a special old fart tax in this town. Giraffes' owners should be taxed too. I didn't post the property will sell for 300K, can you even read you moron? Get lost. Get a heart attack already.
Stu Pidasso February 01, 2014 at 05:25 PM
:)
Dan Cox February 02, 2014 at 10:47 AM
AK, You really know how to push the old farts over the edge, I LOVE IT! :)
Highlands HP'er February 03, 2014 at 10:45 AM
Gun ranges are not cheap. Construction costs are not cheap. Its stupid to spend so much money to build a gun range in high density areas. Why? This isn't a clothing store. Gun ranges have far draws. (people will drive 45 minutes to a gun range). You don't NEED prime real estate. So it would be dumb to spend the money to get it, you wont get your money back. Also.. you are not renovating that theatre for 100k. If you bothered to read the article I posted... the ventilation system required would be 100k alone. Just the ventilation system.
Benny G. February 03, 2014 at 01:29 PM
AK, keep typing and showing your illiteracy which is equal to your ignorance. You cannot hide it. It is apparent for all to see. Who said anything about my age you buffoon. I'm in my early 50's, hardly a relic. A gun range in HP would go broke in a month. There is no audience for it. Even if there was, it is a stupid idea. There, I "entertained" it for a second for the "Four Dummies."

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