The Rosebud Cinema moved a step closer to reopening when the Wauwatosa Common Council approved its application for a Class B Beer/Class B License Tuesday night.
The Rosebud, 6823 W. North Ave., and its sister, Times Cinema, 5906 W. Vliet St., were shut down in March when AnchorBank won a foreclosure judgment against the theaters' owner, David Glazer. Glazer reportedly had used the theaters as collateral for other real estate.
Investor Lee Barczak purchased both properties in early May at a sheriff's auction for $540,000, according to reports.
The Rosebud is undergoing some remodeling, and its marquee announces it is "coming soon." Barczak has reportedly indicated a desire to open the theater yet this month. He did not attend Tuesday's meeting.
"That's been a long time coming. It was scary this year when the Rosebud closed down," said Alderman Bobby Pantuso. His 5th District lines up across North Avenue from the theater.
"I can't tell you how excited I am that this is going to open up," he said, calling the theater "one of the reasons to come and spend your money in East Town."
The Rosebud is at the center of a growing commercial district that includes Cranky Al's bakery and pizza restaurant, at 6901 W. North Ave., newcomer Rocket Baby Bakery, 6822 W. North Ave., the venerable Johnson's Cycle & Fitness, 6916 W North Ave., Il Mito Trattoria, 6913 W. North Ave., Alfa Flower Shop, 7001 W. North Ave., and other businesses.
Barczak, principal in Morgan Kenwood Advisors LLC, a Greendale financial services firm, also owns the Avalon Theater, at 2473 Kinnickinnic Ave., and properties associated with it.
The Rosebud, founded in 1931, was a family business until it became part of the Marcus chain. It was bought in 1999 by Jay Hollis, who installed the theater's signature couches and easy chairs in place of the stiff theater seats. He sold it to Glazer in 2007.
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