Readers familiar with the struggles of the Congress and Portage Theaters will recognize the name of the new owner of the Patio Theater: Eddie Carranza bought the property at 6008 W Irving Park Rd for $2.5M.
Local officials were initially excited about the acquisition—DNAInfo reports that Eddie was the only investor who expressed interest in keeping the landmark movie house open—but now are wary. Ald. Nicholas Sposato (38th) said Eddie and his team failed to follow up with the alderman's office after an initial meeting.
Eddie's properties have faced struggles in the past. As owner and operator of Logan Square's Congress Theater, Eddie amassed several failed building inspections and ran afoul of city officials and neighborhood residents. Cadillac Palace Theater owner Michael Moyer has a bid in place to buy the Congress.
Eddie bought the Portage Theater, at 4050 N Milwaukee, in spite of strong resistance from 45th Ward Ald. John Arena and local business groups about his operation methods. Arena has been stricken by what he's seen since, including filling the theater past legal limits, insufficient security, and even failing to pay the building's gas bills a few times, leaving residents of the building's apartments without heat. Just last month, Arena called the Portage a recipe for disaster.
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