The Closure of Kerasotes Theaters: A Family Business Ends After Over a Century

The Kerasotes family has operated the Showplace Icon theaters for three generations since 1909. However, recent reports have confirmed that four of these theaters will be closing immediately. These four theaters, totaling 51 screens, were located in Chicago (South Loop), St. Louis Park (suburban Minneapolis), Mountain View, California; and San Jose, California (Valley Fair Mall).

Just a week and a half ago, Kerasotes announced the sale of its Secaucus, New Jersey theater location to Regal Theaters. In March, the Boston Seaport District location closed its doors. The St. Louis Park theater location is being taken over by Marcus Theatres based in Milwaukee and will reopen soon. However, the future of the other locations is uncertain as landlords search for new operators.

In 2023, these six theaters collectively grossed $31 million and surpassed Landmark Theatres. While it didn’t rank as a top chain, it was the 32nd largest in the U.S./Canada. This closure is significant because it marks the end of an era for a family-owned business that has been operating continuously since 1909.

At its peak, the Kerasotes circuit ran 95 theaters with 957 screens, making it one of the largest chains in the country. Gus Kerasotes opened a nickelodeon in Springfield, Illinois in 1909 and his grandsons Tony and Dean continued to expand and innovate under various brands until their retirement in 2010 when most of their expanded circuit was sold to AMC Theatres while they focused on new developments with premium services under the Showplace brand.

The closure of any theater can leave a gap in local film exhibition landscape but particularly poignant is closing Chicago’s main theater serving much of South Side which was an important venue for urban audiences leaving only two remaining options with less than half screen capacity to serve population over 1 million people