ShowPlace Icon abruptly closes in the South Loop

• Its shuttering leaves only a handful of theaters for the millions of people living south of Roosevelt Road. Cinema Chatham closed in January.

The big picture: Kerasotes Theaters shut down its four remaining theaters yesterday, including ones in Minnesota and California.

• In Minnesota, a new theater chain will open in the shuttered space next week.

Context: The ShowPlace Icon is the anchor of the Roosevelt Collection Shops, which includes stores like H&M, The Container Store and Old Navy.

• When it first opened, the theater was at the forefront of the "luxury" experience, adding assigned seating, better chairs and food and drink options.
• The retail development was billed as the future of the South Loop, bringing restaurants and community gathering spaces to a corridor that was mainly industrial or train tracks.

Yes, but: The theater has had high-profile incidents recently, including a shooting. It has also been targeted by large teen gatherings that have stressed shops and businesses along Roosevelt Road.

Between the lines: Movie theaters have had a hard time rebounding since the pandemic. Audiences are down, and prices have surged.

What's next: It's not clear if another movie chain will step in.

• Calls to both the ShowPlace Icon and Kerasotes were not returned.