CDC approves $10 million in TIF for Timeline Theatre

The Community Development Commission has approved $10 million in TIF funding for Timeline Theatre. Currently located in a church building in Lakeview East, the company is looking to build a new theater in an existing warehouse building at 5033 N. Broadway in Uptown. Located just north of W. Argyle St, the new theater will be just around the corner from the Argyle CTA L station.

With a design from HGA, the project will redevelop the 1910s warehouse into the new home of Timeline Theatre Company. The front 2/3rds of the building will be demolished and replaced with the newly constructed theatre space. The back third will be renovated for back of house functions. The project will include a 250-seat theatre, rehearsal rooms, a gallery space, education/community rooms, a cafe, and offices. 

To achieve the $37.6 million project, funding will come from many sources including $8.5 million from a capital campaign, $14.2 million in a bridge loan, $10 million in TIF, $2.5 million in state grants, and $2.5 million in New Market Tax Credits. 

Bulley and Andrews has been brought on as the general contractor and work is expected to begin in December 2023 and wrap up by Q3 2024. The TIF funding will still need approval from the City Council.