 During the economic and social changes of the 1970s , business at the theatre slowed for owner Plitt Theatres , affecting ongoing viability . In 1984 , the Chicago Theatre Preservation Group purchased the theater and adjoining Page Brothers Building for $ 11 @.@ 5 million ( $ 26 @.@ 2 million today ) . The group attempted to maintain the venue as a picture theater but was unable to remain <unk> and the facility closed September 19 , 1985 . 
