Avalon Theater owner buys Rosebud, Times theaters

MILWAUKEE -- A representative from the management company of the Rosebud and Times theaters says the owner of the Avalon Theater in Bay View bought the two theaters at a sheriff's foreclosure sale Monday, May 7th.

The winning bid was $275,000 for the Rosebud, and $265,000 for the Times.

A hearing for confirmation of the sale is set for June 11th.

CLICK HERE for more on the sale via FOX6's media partners at the Wauwatosa Patch.

The Times Cinema and the Rosebud Cinema were closed after falling into foreclosure.

AnchorBank won a foreclosure lawsuit against the owner of the theaters, after which a search was on by the court-appointed property manager to find a new operator. "This is truly a unique venue that people in the community really felt was their won, and did notice when they closed, and are looking for them to reopen," John Matheson with real-estate firm Siegel-Gallagher said.

The two theaters are in close proximity. The Times is located on 59th and Vliet, and the Rosebud on 68th and North Avenue.

Previous stories: