An offer has been accepted for the former Micon Downtown Cinema property at 315 S. Barstow St. in Eau Claire, Volume One reported Oct. 15.
Jake Tanner of Trillium Commercial Realty, who is handling the sale, confirmed the property is under contract. He said due diligence will continue for roughly two months before an expected closing, and he could not name the buyer or describe the planned business, other than saying it will not be a larger chain.
A deed restriction on the properties bars a competing movie theater from opening there, according to the report. The neighboring property at 313 S. Barstow St., formerly B-Framed Galleries, remains for sale with no official price set.
Micon, a locally owned chain, closed the downtown theater and put it up for sale after a March fire at the adjoining gallery caused smoke damage and added to financial pressures.
Members of a community group that had explored a community-owned cinema met Oct. 12 and, after learning of the pending sale, ended that effort, according to the report.
