Lakehurst Cinema to be Demolished
By Dan Moran
STAFF WRITER
WAUKEGAN — Once touted as having the most movie screens under one roof in the U.S., Lakehurst Cinema appears to be on its last legs after the City Council gave the go-ahead Monday on negotiations to raze the theater and clear space for a hotel.
"Basically, the city has agreed to help us pay for some of the improvements necessary to make a deal to replace the movie theater with a new hotel," said Lothan, adding that a franchise has been approached but the name is being withheld while negotiations proceed.
Director of Governmental Services Ray Vukovich said aldermen essentially gave city attorneys approval to draft a redevelopment agreement with the theater owners. According to Vukovich, the city is being asked to finance the cost of demolition, which he estimated at around $200,000 to $400,000, depending on a bid process.
"Their lawyers will be meeting with our lawyers, and we hope to see it resolved as soon as possible, so everyone knows what the future of that property will be," said Vukovich, adding that the theater's location on the southwest corner of Lakehurst and Waukegan roads "is really starting to look like a nice retail area."
Competition from the growing roster of Lake County multiplexes, including the Gurnee Cinema in 1995, forced General Cinemas to close the theater in autumn 2000. It reopened under the Village Theatres banner in September 2001 and remains in operation today.
Instead, Lothan said he and fellow developer Bruce Fogleson will wait for the redevelopment agreement to be finalized, then take it to the hotel chain. If all goes well, he said a deal could be struck "in a few months."
STAFF WRITER
WAUKEGAN — Once touted as having the most movie screens under one roof in the U.S., Lakehurst Cinema appears to be on its last legs after the City Council gave the go-ahead Monday on negotiations to raze the theater and clear space for a hotel.
"Basically, the city has agreed to help us pay for some of the improvements necessary to make a deal to replace the movie theater with a new hotel," said Lothan, adding that a franchise has been approached but the name is being withheld while negotiations proceed.
Director of Governmental Services Ray Vukovich said aldermen essentially gave city attorneys approval to draft a redevelopment agreement with the theater owners. According to Vukovich, the city is being asked to finance the cost of demolition, which he estimated at around $200,000 to $400,000, depending on a bid process.
"Their lawyers will be meeting with our lawyers, and we hope to see it resolved as soon as possible, so everyone knows what the future of that property will be," said Vukovich, adding that the theater's location on the southwest corner of Lakehurst and Waukegan roads "is really starting to look like a nice retail area."
Competition from the growing roster of Lake County multiplexes, including the Gurnee Cinema in 1995, forced General Cinemas to close the theater in autumn 2000. It reopened under the Village Theatres banner in September 2001 and remains in operation today.
Instead, Lothan said he and fellow developer Bruce Fogleson will wait for the redevelopment agreement to be finalized, then take it to the hotel chain. If all goes well, he said a deal could be struck "in a few months."
posted by Red Alert Collective at 10:17 PM
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