Authorities "confirmed the building is under contract," Chicago’s NBC 5 reported later Wednesday. "A source familiar with the deal who wished to remain anonymous because of the pending sale, however, said the Beyoncé and Jay Z rumor is inaccurate."
"The New Regal is a landmark property and has hosted so many concerts and plays," Chicago-based event promoter and publicist Waddie Grant told EBONY.com. "The theater would make a good investment for Jay Z, Beyoncé or anyone. I’m surprised the sale hasn’t happened sooner."
The theater will turn 86-years-old next week and originally opened as the “Avalon Theater” on August 29, 1927. The New Regal Theater has been certified as a "Chicago Landmark" and is famous for being one of the nation’s foremost examples of “Moorish Revival” movie palaces. ... The iconic South Side stage was graced by the biggest names in jazz, blues, R&B and pop from the 1930s to the 2000s—including Josephine Baker, Nat “King” Cole, Cab Calloway, Ella Fitzgerald, Lena Horne, Isaac Hayes, The Supremes, Stevie Wonder, Minnie Ripperton and many others.
Take a virtual walk into the history of one of Chicago's landmarks HERE.