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Quincy Jones, Jennifer Hudson and Chance the Rapper co-owners of historic Chicago theater

CHICAGO (AP) 鈥 Iconic music producer Quincy Jones and entertainers Jennifer Hudson and Chance the Rapper are now co-owners of the historic Ramova Theatre on Chicago's South Side.
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FILE - Chance the Rapper arrives at the BET Awards on June 26, 2022, at the Microsoft Theater in Los Angeles. Iconic music producer Quincy Jones and entertainers Jennifer Hudson and Chance the Rapper are co-owners of the historic Ramova Theatre on Chicago's South Side. The Chicago Sun-Times reports that their ownership was announced Wednesday, Nov 15, 2023. The Ramova has been closed for nearly four decades and no opening date has been announced. (Photo by Richard Shotwell/Invision/AP, File)

CHICAGO (AP) 鈥 Iconic music producer Quincy Jones and entertainers Jennifer Hudson and Chance the Rapper are now co-owners of the historic Ramova Theatre on Chicago's South Side.

Their ownership was announced Wednesday, according to the .

has been closed for nearly four decades. Developer and co-owner Tyler Nevius bought the property and an adjacent lot from the city in 2017 for $1, the newspaper reported.

Jones, Hudson and Chance the Rapper, whose real name is Chancelor Bennett, are Chicago natives.

鈥淢y mother always taught us to take care of home first, so to support the rehabilitation of this extraordinary theater with such a rich history in Chicago means more to me than one could imagine,鈥 Hudson said.

Bennett says 鈥淐hicago will always be part" of who he is.

鈥淚 joined the team at Ramova to give back to the city that鈥檚 given me so much and to provide a stage to showcase the incredible talent Chicago has to offer," he said.

The Ramova opened in 1929 as a single-screen movie palace. It had shut down by 1985 and was spared demolition. on the National Register of Historic Places in 2021.

When it reopens, the renovated theater will feature a 1,500-seat live music venue and beer garden and grill. No opening date has been announced.

New York-based Other Half Brewing also is a partner in the venture.

鈥淲ith Ramova, I see a future where the rich cultural heritage of Chicago shines even brighter alongside the country鈥檚 most talented artists, which will inspire future generations to come and bring glory to America鈥檚 Second City," Jones said.

The Associated Press