Jam Productions Buys Uptown Theatre for $3.2 Million

November 18, 2009

Daily Real Estate Updates

sudler-sothebys-logo18 November 2009 ? Concert promoter Jam Productions Ltd has added another music venue to its growing portfolio. On Tuesday, the historic Uptown Theater, located on the 4800 block of north Broadway, was purchased for $3.2 million in a court ordered foreclosure sale. The sale must be court approved, however Jam does not expect any objections. Originally designed as a movie palace in 1925, the building has been vacant since the early 1980?s. While the sale price is essentially a ?credit bid? to cover repayment of two existing loans, Jam must also resolve $1.8 million in liens against the theater related to maintenance work performed by the city. This figure pales in comparison to the estimated $40 million renovation price tag. Hopefully the city can help cushion the cost. Restoring the Uptown Theater will be a beautiful additional to this prime entertainment intersection which is already home to The Green Mill, The Aragon Ballroom and The Riviera. Rock on!

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About Nancy Gaspadarek

With over nine years in the Chicago real estate market, Nancy continues to enjoy the momentous and exciting process of helping her clients buy and sell homes. Nancy believes that the relationships & friendships that she has developed over the years are priceless. In 2007 she made the decision to partner with Catherine Brennan and the two are collectively known in the industry as The G and B Team. ?It was the best move I could have made?, Nancy says, ?Having a knowledgeable and reliable business partner to counter balance your strengths and have a shared passion to provide top notch service and expertise to all our clients is such a blessing.? Nancy graduated from Florida State University in Tallahassee, where she received a four year scholarship and was the captain of the woman's volleyball team for four years. Nancy has lived in downtown Chicago for over 14-years in a variety of neighborhoods. Her free time is usually spent playing tennis, golf & running/biking along the lakefront. She participated in the 1998 Chicago Marathon and has competed in a number of triathlons as well. She volunteers with The Friends of Blaine School in Lakeview, as well as Umoja Student Development and loves to travel as much as possible. You can contact Nancy at 773.259.9353 or gandbteam.com

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