A building in the fast-changing Six Corners business district has changed hands. Lawyer and investor Charles Cui bought the former Bank of America building at 4901 W Irving Park Rd from Cermak Fresh Market's Michael Boussis for $7.3M.
This Art Deco building is steeped in history. It was a bank throughout its lifespan, but it also contains a 300-seat theater that was built for company meetings and was later home to the Northwest Chicago Film Society, which screened classic films there for nearly 30 years until Bank of America sold the building in 2010. Boussis bought it for $2.9M in 2011 and wanted to tear it down and redevelop the site into a supermarket, but was never able. Ald. John Arena (45th) and local preservationists fought to preserve the building because of the theater inside, Crain's reports.
Cui plans to reach out to nonprofits to run the theater space. The site is already being redeveloped by Clark Street Real Estate into multiple retail storefronts and has LOIs from Binny's Beverage Depot, Culver's Hamburgers, Elly's Pancake House and Retro Fitness. [Crain's]
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