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Beyonce, Jay Z purchase New Regal Theater?

Beyonce and hubby Jay Z may be Chicago’s most high-profile landlords if rumors of their recent theater purchase are true. | AP PHOTO

UPDATE: When asked about the rumored Beyonce-Jay-Z purchase of the Regal Theatre Wednesday, a close business associate of Jay-Z said, “I have heard nothing about it. … except by reading about all the rumors that have been posted today.” — Bill Zwecker, Sun-Times columnist

Chicago’s most famous landlords?

The Internet rumor mill is abuzz with talk that power couple Beyonce and Jay Z have purchased the iconic New Regal Theater on 79th street in Chicago. was first to report the news.

The theater opened in 1927 as the Avalon Theater. With its Moorishlike architectural touches, the building served as the Miracle Temple Church until 1987 when it turned once again to a performing arts venue and renamed the Regal. The building was declared a landmark in 1992.

The long-ago elegant movie palace, featured 2,500 seats and served as one of the city’s premiere movie houses in the 1930s and ’40s. A photo of its long-ago gorgeous interior can be found here.

Stay tuned.