Politics & Government
Developing Story: Deal for CineMagic Could Be in the Works
The movie theater, which has been vacant since 2010, could find a new use if a deal is struck soon.
St. Michael Community Development Director Marc Weigle told the Tuesday a deal for the former Cinemagic Theater could be in the works, and a purchase agreement is possible.
"We don't have a lot of details at this time, but we do know the broker is working with a buyer, and he feels like something could happen," Weigle said.
The property has been vacant since Cinemagic walked away from the building in September of 2010, allowing more than a dozen creditors to come into the theater and claim collateral, from theater seats to screens and other materials.
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St. Michael Fire inspected the building with city staff recently and said the building is still in good shape and up to code.
Weigle said there is a lender doing "due diligence" with the possible buyer at this time.
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