http://www.jsonline.com/news/milwaukee/owner-says-rosebud-times-theaters-to-close-1149dpb-139828233.html The Rosebud and Times theaters are closing the first week of March, according to owner David Glazer.
Glazer has owned the Times, 5906 W. Vliet St., since January 2007. He has owned the Rosebud, 6823 W. North Ave., since October 2007.
Glazer said in a news release that, like investors who purchased property five to six years ago, he bought the properties when the market was high.
"Property values have fallen considerably in the last few years," Glazer said." The lending environment today makes it very difficult to
renew or refinance commercial loans."
Glazer said he gave the current lender, whom he did not identify, with options. But the lender decided to take back the properties.
The Times Cinema opened in June 1935 in a former automobile repair building. The Rosebud Cinema was originally opened as the Tosa Theater in October 1931.
The two theaters showed art-house films as well as first-run movies.
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