Local music fans should be glad Jam won the battle for the Uptown Theatre
On July 29 a circuit court judge ordered the Uptown Theatre onto the auction block, and the sale had one immediately obvious benefit—it eliminated the tangle of owners, partial owners, mortgages, and liens surrounding the property and made it clear who’s actually responsible for the place. Chicago-based Jam Productions won with a bid of $3.2 million—and surprisingly, the only other bid accepted was from the holder of the first mortgage, not from one of Jam’s competitors. [Update: The sale won’t be official until approved by a judge, but most observers feel that’s a mere formality.]
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