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Racine, WI: Uptown Theatre Building Up For Auction on April 21, 2018

Posted on Wednesday, April 18th, 2018 4:32 PM

The Uptown Theatre in Racine, Wisconsin hasn't shown movies in many years, and now the historic theater is going up for auction on Saturday, April 21, 2018. The theater, which was known as the Majestic Theatre when it opened in 1928, is listed on the National Register of Historic Places, is located at Washington Avenue and Ann Street.

According to a recent article published in The Journal Times, owners Peg and Lou Larson are looking to sell for health reasons:

Peg and Lou Larson are holding a major auction Saturday which will include the Uptown Theater, 1426 Washington Ave.; all of its many contents; and the Brass Monkey tavern, 1436 Junction Ave.

Lou’s health problems are the reason for the clean sweep. He said the couple will also close Peg & Lou’s Bar & Grill, 3113 Douglas Ave., when their current liquor license comes up for renewal at the end of June.

The Uptown Theater building consists of three separate storefronts: the theater entrance in the center; what was Craig Norby’s secondhand shop on the east side; and another storefront at the west end. Lou Larson said they bought the building at least 10 years ago to use as a storage space for their sprawling collection of furniture, antiques and smaller collectibles, which they have kept inside that west storefront.

The building also has eight upper-floor apartments that Lou said bring in a total of $4,000 per month in rental income.

The Larsons have set a reserve price of $275,000 on the theater building and $125,000 on the Brass Monkey building, meaning they can decline any bids below those amounts. If either or both buildings aren’t sold at auction, the couple will put them up for sale, Lou said.

Click the Read link below to view the full article.

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