To Give German Drama. A $600,000 Theatre to Be Erected in the Downtown District. it Will Be Large and Elegant and Compare Favorably with Anything of the Kind in Chicago.
Chicago Tribune, Oct. 30, 1890
p. 3 - 1 The German Theatre company has secured a ninety-nine year lease of the Wells property on Dearborn Street north of the Borden Block. This lease is made on the basis of $13,000 a year. This company some time ago leased the Francis Bartlett property on Randolph Street adjoining the Borden block, 80 x 180 feet, for ninety-nine years at an annual rental of $17,500. The Wells property has a frontage of ninety feet on Dearborn Street and is 80 feet deep. The valuation of this property as determined by the terms of the lease is $260,000. The valuation on the Bartlett lot is $350,000.
On the "1" shaped lot now controlled by these leases the theatre company proposes to erect a $600,000 theater building. The auditorium of the theater will be large enough to accomodate an audience of 2,000. The theater entrance will be on Dearborn Street, while the Randolph Street frontage will be 2used for offices. It is stated that the new building will be commenced next spring.
