Grand opening, growth, and decline Abe and
Barney Balaban, together with Sam and Morris Katz—founders of the
Balaban and Katz theater chain, built the Chicago Theatre in 1921 as one of a large chain of opulent
motion picture houses. The theater would become the
flagship for 28 theaters in the city and over 100 others in the
Midwestern United States that B&K operated in conjunction with the
Paramount Publix chain.
Cornelius W. Rapp and George L. Rapp were primary architects and the final construction cost was $4 million ($ million in dollars). The Rapp brothers also designed many other B&K properties in Chicago, including the
Oriental and
Uptown Theatres. When it opened October 26, 1921, the 3,880-seat theater was promoted as the "Wonder Theatre of the World". Capacity crowds packed the theater during its opening week for the
First National Pictures feature
The Sign on the Door starring
Norma Talmadge.— and a live stage show. Poet
Carl Sandburg, reporting for the
Chicago Tribune, wrote that
mounted police were required for
crowd control. The theater's strategy of enticing movie patrons with a plush environment and top notch service (including the pioneering use of
air conditioning) was emulated nationwide. The building has been associated with
popular culture occasions. For example,
Ronald Reagan announced his engagement to
Jane Wyman at the theater. Another modernization occurred in the 1950s when management discontinued stage shows.
Restoration Roger Ebert Day award The Chicago Theatre Preservation Group commenced renovation of the buildings which were completed in 1986 at a cost of $9 million ($ million), with $4.3 million ($ million) spent on the Theatre. The gala reopening was also symbolic because Sinatra had performed at the theater in the 1950s. provided office space to support the theatre. The theater, like its neighbor the
Joffrey Tower, is an important component of the North Loop/Theatre District revitalization plan. The Balaban and Katz trademark is now the property of the Balaban and Katz Historical Foundation. New York's
Madison Square Garden Entertainment announced October 11, 2007, that it would buy the theater. Prior to 2008, the theater hosted the annual opening film of the
Chicago International Film Festival until the festivities moved to the nearby
Harris Theater. Mayor
Richard M. Daley declared July 12, 2005 "
Roger Ebert Day in Chicago" and dedicated a plaque under the marquee in his honor. The theater is featured in the book,
The Chicago Movie Palaces of Balaban and Katz, by David Balaban, grandson of the original owner. As of 2011, as permitted under the terms of sale dictated by the city, the vertical CHICAGO sign had a
logotype for
Chase Bank added to indicate sponsorship. == Architecture ==