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Chicago City Wire

Wednesday, October 16, 2024

TimeLine Theatre's new venue receives City Council's TIF approval

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Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website

Ciere Boatright commissioner of the Chicago Department of Planning and Development (DPD) | City of Chicago Website

TimeLine Theatre's upcoming $40 million venue in Uptown will receive financial backing through Tax Increment Financing (TIF) approved by the City Council. The TIF support could reach up to $14 million.

The new facility is being constructed within the vacant W.C. Reebie & Brother warehouse located at 5035 N. Broadway. The four-story building will house a 250-seat theater, along with rehearsal, office, hospitality, and community spaces.

TimeLine Theatre was founded 25 years ago in Lake View. This move aims to enhance educational opportunities and expand programming with Chicago Public Schools among other improvements.

The TIF funding will come from the Lawrence/Broadway TIF district. It includes a $10 million forgivable loan and an additional $4 million loan that will be repaid after the project's completion.

The project is expected to retain 12 permanent full-time jobs and 14 part-time jobs while creating approximately 200 construction jobs. Initial performances are planned for early 2026.

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