Did Beyonce And Jay Z Purchase A Landmark Theater In Chicago? Rumors Are Swirling!

August 24, 2013  |  

UPDATE (2:26PM): Sources close to the Sun-Times say the Carters are not involved in the sale and instead, the alleged buyer is the Community Capial Investment Partners, LLC., but there’s been no official word. Could they just be trying to keep it on the hush? Time will tell…

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Beyonce and Jay Z have decided to take their talents to Chicago. Well, their business talent, that is.

Zimbio.com is reporting that the Carters recently bought the New Regal Theater in Chi-town for a sweet deal of only $250,000. The New Regal, which has apparently seen better days, has had various owners while trying to return to its “glory years.”  While Edward and Bettianne Gardner owned the place for years, they closed it in 2003 because they weren’t making any money. In 2008, the couple finally let it go and sold it to a group of business owners.

Despite using the New Regal as the place to celebrate President Barack Obama’s presidential nomination speech in 2008, there has been little to no use since then. In fact, it has been closed again for over a year now even though it has undergone a slight renovation.

There’s no official word as to whether or not Beyonce and Jay Z, if they are in fact full or partial owners, plan to keep the Regal as a source of entertainment but if they do, it can only help the city drive revenue.

Good for them! Whatever they decide, hopefully it will bring a few more jobs to Chicago as well.

Do we have any Chicagoans? Do you think the Carters will be able to fully restore the New Regal Theater?

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