Financing has been cleared to move forward with the Congress Theater redevelopment located at 2135 N. Milwaukee Avenue in Logan Square. After quite a few delays, developer Baum Revision will now move ahead with its requests for the Woodhouse Tinucci Architects-designed proposal.
The movie house was built in 1926 by Fridstein and Co. and designed in a mix of Classical Revival and Italian Renaissance styles for a capacity of 2,900 moviegoers and will include 17 retail storefronts, and 56 apartments.
Over the years it has changed many times and finally was closed down in 2013 due to multiple safety violations. As the building stayed empty, it has significantly fallen into disarray. Now Baum Revision is pushing forward with its proposal which will begin with a facade restoration and a new marquee sign as well.
The restoration will include:
- Inside main hall restored as a 2,900 seat live music venue
- 5,400 square feet of ground floor commercial space
- Upper floors will hold 16 residential units lowered from the originally planned 20 units
- 14 of the units will be affordable
- Remaining space will be added office and work space
Chicago Yimby reports that with an increased cost of $88 million, up from last year's $7.4 million, the developer is applying for $21 million in TIF funds from the Fullerton/Milwaukee TIF district which were recently blocked by the 10th ward alderwoman due to labor concerns. Now the local labor union and AEG have struck a deal. The request for funds can now move forward towards city approval, even though there is no confirmed construction timeline at this time.
Chicago.gov states that the proposed TIF allocation - double what was awarded to the previous Congress developer Michael Moyer, whose redevelopment project had fizzled in 2020 - would allow Baum Revision to bring the famed music venue back to life after nearly a decade of sitting empty.
City planners said that without the TIF funds, this project could not be financed and would not generate an acceptable level of return on investment.
The project is expected to create 125 permanent full-time jobs and 200 construction jobs.
Block Club Chicago reports that the theater used to screen films and hosted vaudeville acts before becoming a vibrant music venue, hosting famous musical acts like Chuck Berry and Jerry Lee Lewis. It was designated a city landmark in 2002.
Baum Revision took the reins of the project last year, with AEG on board as the operator. Other developers also wanted the property, but Baum won out because of its commitment to renovate the entire building and not just the theater. Baum has experience renovating historic buildings including the Margies Candies and Green Exchange buildings.
DataBid is currently reporting on this project - New Congress Redevelopment Sub Area A Theatre Renovation - Chicago (0017120718)
