Buying a building already divided into nine theaters makes it easier to turn them into dining halls, says Colliers Bennett & Kahnweiler Inc. vice president Austin C. Jump, who completed the sale. "It works out fine for him," he said.
The theater's fate was the subject of speculation amid recent rumors Loews was divesting itself of several moviehouses in the Chicago area ahead of bankruptcy proceedings. The sale of the Rolling Meadows theater, announced this week, took five months. "In just three months we found the buyer, negotiated the sale of the property, obtained a special use permit from the Village and turned over the facility in 60 days," Jump said.
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