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Majestic Theatre in Streator sold at auction

Posted by wlpo on August 12, 2015

The boarded up Majestic Theatre was sold for $85,000 at auction Wednesday morning.

The bank that holds the theater’s mortgage and liens against the owner, First Farmer’s Bank and Trust of Indiana was the lone bidder. It’s not clear what they plan on trying to do with the downtown Streator which has been closed for a year.

Katie Troccoli managed the Majestic when it was closed by her former business partner. She says it will take a “herculean effort” to get the building back to showing movies since the roof is leaking and it’s been stripped. Everything from the movie screens to movie posters have been taken out of the building.

Troccoli says she would love to take ownership over the theater but at $85,000, that wouldn’t be a good investment for her.

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