Coming Soon: Village Board Approves Development Of Movie Theater

Glenview IL

17 November, 2021

3:15 PM

Description

GLENVIEW, IL — Grab some popcorn, Glenview. A new movie theater is due to open by next summer. At the beginning of the coronavirus pandemic in March 2020, ArcLight Cinemas closed its doors at a movie theater it operated in The Glen Town Center for what was supposed to be a temporary decision. Fast-forward to April of this year and a decision was made to never reopen by the company. The Glenview Board of Trustees voted Tuesday night in unanimous support of a development agreement for a new movie theater at location following public feedback stemming from the recently completed Glenview Connect process. The new theater operator, Landmark Theatres, will feature first-run and art house films. The development agreement includes $3.5 million to reimburse tenant and building improvement costs using existing Glen TIF funds that have been designated for the purpose of economic development and infrastructure improvements, according to a news release from the Village. "I think this is an exciting opportunity to utilize TIF funds as they need to be in TIF assets in response to resident feedback," Glenview Village President Mike Jenny said at the Village Board meeting. In applauding the Glenview Connect process, Jenny added that the presence of a movie theater supports the "vibrancy of the area, the nearby restaurants and the overall shopping center experience at The Glen." The redeveloped tenant space is expected to generate between $3.1 million and $4.2 million in amusement and property tax revenue over the course of the lease that would pay back the Village's investment, according to officials. Officials said the redevelopment of the movie theater marks an "important first step" for the Village's Economic Development Strategic Plan, which was adopted by the Board in August. The theater was identified as a "spark site" for potential redevelopment, and public feedback at multiple Glenview Connect meetings underscored the desire for a replacement operator. Landmark Theatres, which also has locations in Highland Park and Chicago's LincolnPark neighborhood, will be contributing funds to support the re-tenanting of the theater space, which includes updates to the theater's 20-year-old seating, projection equipment and sound systems. Stay Patched In! Get Patch real-time email alerts for the latest Glenview newsCheck out the Events Calendar for what's going on in GlenviewLike the Glenview Patch on FacebookPatch Mobile: Get app for iPhone and Android