By James P. Economos, DDS
The Avalon Regal Theater is the entertainment-gem of the Southside. This historic landmark opened in 1927 under Austrian born architect John Eberson. The 2500 seat auditorium theater is preserved in mint condition ready to contribute again to Chicago’s rich live music history. .
At the age of 30, Jerald Gary, Chicago native and President and Chief Investment Officer of Community Capital Investment Partners, LLC purchased the theater in 2010. Since that time, Gary has met all City of Chicago Building’s department building code requirements to secure the facade. He’s poured his own funding and that of partners/investors into the theater keeping the lights and heat on. The Avalon’s monthly expenditures are real, including the $100K per year property tax bill. Gary has worked diligently to self-fund this major development project.
However, to fully develop the theater and restore this historic landmark Gary is asking for fruitful partnerships with investors, grant-making institutions and philanthropy to property restore this historic Black landmark. Like many historic theaters built during the 1920’s, the City and State of Illinois has invested millions to bring these theaters into modern operation. Gary is asking the City, State, landmark institutions and architectural enthusiasts to do the same for the Avalon Regal Theater. According to public information, the City has granted through various mechanisms upwards of $60 million into local area theaters similar in size and scope as the Avalon. Why?
Investment is not to make Gary and his partners rich, as is the theory by many misinformed groups and political officials. Gary’s tax and legal documents substantiate 24 years of maintenance, legal and tax liability. The most important fact for everyone to understand is that the Avalon will create jobs and small business opportunities.
The Avalon is nestled on a major retail corridor on 79th Street in Chicago’s historic lake-front community South Shore. It meets both local and federal funding guidelines including being in a disproportionately Impacted Area (DIA), HUB Zone, Opportunity Zone and is a State of Illinois Retail Thrive Zone.
It’s the perfect project for Federal, State and local investment. Once fully operational and restored, the theater will provide up to 200 local entertainment and hospitality jobs and spur economic development for this largely low-income African American Democratic constituency.
To be clear, Gary is being stonewalled. Gary has demonstrated his own equity contributions in stewarding the theater. His request is simple. He wants City officials to pay attention to their own economic development plans that have for years cited the Avalon Regal Theater as a necessary catalytic project. He wants them to put their issues away and invest in the South Shore/79th Street corridor. In fact, the City’s economic development plans cite South Shore as the “Black Hollywood of the Midwest” with the Avalon Regal Theater its center.
City Council meetings have exploded with angry African Americans questioning Major Brandon Johnson’s continued commitment to fund the migrant crisis while ignoring decades of divestment, joblessness, and crime ridden Black neighborhoods.
The residents of South Shore are asking WHY no funding is being committed to creating economic opportunities like the Avalon Regal Theater, yet migrants get thousands of dollars to spend on personal needs.
Since 1980, James P. Economos, DDS, has been helping patients create artistic, beautiful, and aesthetic smiles. Dr. Economos is an opinion contributor with Illinois Review and he can be heard on Chicagoland radio shows each week providing insight and commentary on local and national issues.
