Bridgeport’s Ramova Theatre in line for $22.9 million redevelopment

The 90-year-old Ramova Theatre in Bridgeport, closed since the mid-1980s but fondly remembered for the star-like lights in its ceiling and the interior that evoked a Spanish courtyard, would be developed as a live entertainment and dining center under plans submitted to the city.

Mayor Lori Lightfoot’s planning agency has tentatively agreed to back the project by giving the Ramova, which is city-owned, to developers who plan a $22.9 million renovation. The city bought the theater for $285,000 in 2001 and through the years has spent $364,000 on urgent repairs, hoping for a viable offer that would save it, said a city planning official.

After 18 years, it may have gotten one from investors who have styled themselves as One Revival Chicago LLC. Its paperwork shows that it is led by Tyler Nevius of Brooklyn. Kevin Hickey, owner of the acclaimed Bridgeport restaurant The Duck Inn, is involved for the project’s dining component.

Ald. Patrick Daley Thompson (11th) said he’s thrilled about the plan, which would turn the single-screen movie house into a live-entertainment venue. He said the theater, 3518 S. Halsted St., could draw other businesses to the commercial stretch. “The theater has been a liability for the city, but it could really become something that’s positive. I think it will spill over to other improvements,” he said.

Thompson presented the proposal to residents at a meeting Tuesday night.

Sun-Times file photo

Aside from the gift of property, tentative terms with the city calls for a tax increment financing subsidy of up to $6.64 million. Officials said the help is justified by the project’s community benefits, which include 110 construction jobs and 80 permanent jobs.

Thompson said it’s the first time he’s supported TIF money going to something other than a public works project. “We would want our community groups and schools to utilize the space. You need to have that partnership for this to work,” he said.

In a statement, Lightfoot endorsed the project. “Our cultural institutions don’t just support great art, they serve as community anchors, drive our local economies, and help shape our neighborhood identities. In restoring the historic Ramova Theatre, we are infusing new life into both the Bridgeport community and Chicago’s broader cultural scene.

“I am personally excited to be checking out the new acts and artists who will be coming through this beautiful new venue, burnishing our status as a world-class cultural center and artistic destination.”

Nevius and Hickey could not be reached.

The old 1,500-seat auditorium would be enlarged to accommodate 1,800 people, a city planner said. The Ramova would become eligible for landmark designation covering its terra cotta façade as part of the deal. The building has required masonry and roof repairs over the years, and the interior sustained significant water damage.

Thompson said he’s “very cautiously optimistic” that the buyers can pull off the improvements. “I’ve had them go through a lot of hoops just to get them this far,” he said.

The developers also would get a city-owned vacant lot just south of the Ramova. It could become an outdoor seating area for diners or brewpub customers. A planning official said the city bought it for $300,000 in 2006. The lot and the theater together have been appraised at $570,000, he said.

The plan calls for the developers to acquire two, two-story commercial buildings just north of the Ramova and work them into the plans. They also would get access to a parking lot on the other side of Halsted.

Designed by architect Myer O. Nathan, the Ramova opened in 1929 as a twin of the smaller but successfully preserved Music Box Theatre on the North Side. By the 1950s, the Ramova was relegated to showing second-run films.

Thompson said the last movie he saw there was Grease.

Sun-Times file photo