Workers Busy as Steppenwolf Claims Old Ethan Allen

Workers filed in and out Wednesday of Halsted's old Ethan Allen building, where work is under way on a giant expansion to the adjacent Steppenwolf Theatre Company.

The company plans to issue up to $17 million in bonds to refinance existing debts and expand into the former furniture showroom, according to Crain's Chicago Business.

The publication reports:  

The rest of the bonds will be used to refinance loans at lower interest rates, including $6.1 million in bonds issued in 1998 and a mortgage obtained last year when it paid about $6.4 million for the site …

The expansion will create “a learning lab” for theatergoers, said David Schmitz, managing director of Steppenwolf, which had revenue of $13.8 million in the fiscal year that ended Aug. 31, 2011, (which was) the most recent year available.

The theater at 1650 N. Halsted St. currently takes over much of the block. But the adjacent 18,000-square-foot building at 1700 N. Halsted St. will be renovated to include space for classes.

Get more North Side stories like these delivered right to your inbox or smartphone with our free newsletter.

Ethan Allen has been closed since Feb. 28. The business permit, issued March 5, indicates that current construction includes a revamp of the space's two stories and basement.

The current building classification is mercantile, but that will be changed to a Class C-2 for "small assembly." The price tag, according to the city of Chicago, is estimated at around $3 million.

The building's second floor will be primarily used for administrative offices, according to Steppenwolf representatives. 

"Steppenwolf draws a lot of people from all over to Lincoln Park," Lincoln Park Chamber of Commerce spokesman Padraic Swanton said last week. "This is obviously fantastic for the neighborhood."

The Steppenwolf ensemble first began performing in the mid-1970s in the basement of a suburban church, according to its website. It has since grown to 43 members who theater officials say "represent a remarkable generation of actors, directors and playwrights."

Steppenwolf operates as a nonprofit organization, relying on community support to present up to 16 plays and nearly 700 performances, readings and other events every year on three stages.

"The theater’s artistic and educational programs draw a multi-generational audience of nearly 200,000 from the greater metropolitan Chicago area," its website says. "Our impact reaches well beyond this region with productions that tour nationally and internationally."

Follow us on Facebook: Lincoln Park / Lake View / Lincoln Square / Bucktown-Wicker Park /North Center-Roscoe Village