Timeline Theatre Company Granted $14 Million in TIF Funds for New Theater and Community Space
FOR IMMEDIATE RELEASE: OCTOBER 17, 2024
CHICAGO—On October 9th, City Council passed an ordinance allowing up to $14 million in Tax Increment Financing (TIF) funds to be issued to TimeLine Theatre Company so that they can redevelop an existing warehouse and construct a new theater auditorium at 5033-5035 N Broadway.
TimeLine Theatre’s planned $40 million Uptown performance venue will include a 250-seat theater as well as rehearsal, office, hospitality, and community spaces. The project is estimated to retain 12 permanent full-time jobs, 14 part-time jobs, and create 200 construction jobs. Initial performances are anticipated in early 2026.
Founded 25 years ago in Lake View, TimeLine Theatre’s move into the 48th ward will increase educational opportunities and allow for expanded programming with Chicago Public School. It will also serve as a community hub on the south side of the ward.
“We're thrilled to welcome Timeline Theatre to Uptown and the 48th Ward,” 48th Ward Alderwoman Leni Manaa-Hoppenworth said. “Uptown has long been known for its world-class entertainment venues and shows, and Timeline Theatre will be a great addition to this tradition. Located in the heart of the bustling Asia on Argyle community, Timeline has integrated community spaces into their design, opening their doors to neighbors with a new, modern approach to the theater experience. We are glad to have their partnership and investment in our community, and look forward to the groundbreaking."
The TIF funding will be provided from the Lawrence/Broadway TIF district as a $10 million forgivable loan and a $4 million loan to be repaid after project completion. Read TimeLine Theatre Company’s August 12, 2024 press release regarding the development here.
Contact: Nicole Granacki, Chief-of-Staff - 773-784-5277
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