Mercury Theatre Faces Uncertain Future

According to the Chicago Tribune, The Mercury Theatre and owner, Michael Cullen will face a $3 million forclosure suit from Ravenswood Bank.  As reported by Crain's Real Estate Daily, the Southport Ave. theatre hosted many late-night productions of local troupes until Cullen fell ill earlier this year. In December, Cullen began missing monthly mortgage payments, according to a complaint filed March 9 in Cook County Circuit Court.

A longtime player in local theater, Cullen is credited with producing popular shows, such as "Pump Boys and Dinettes" and "Driving Miss Daisy" in the 1980s.  The Mercury which has not hosted a show since June, has remained dark for months, and will not be seeing business as usual due to these two factors.  Several potential buyers have been shown the property, including Vince Vaughn. 

A renovated space, The Mercury Theatre opened in early 1996 and was converted from a 1912 nickelodeon. The comfortable and elegant theater offers excellent sight lines and great acoustics.  In addition to the 299-seat theater, the 13,186-square-foot building also includes Cullen's Bar & Grill and a vacant storefront where business partner, Carlucci operated two differet restaurants: Italian eatery Strega Nona, then Take 5, a sports bar.

To read the full article, visit http://leisureblogs.chicagotribune.com.

 

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