LAS VEGAS (KLAS) — A luxury theater in downtown las vegas is at risk of closing. The building that houses Eclipse Theater will face a foreclosure sale next week. An auction is planned for April 16.
Eclipse Theater is located near the intersection of 3rd Street and Gass Avenue. Court documents show financial and legal troubles for the theater over the past few years.
Eclipse Theaters opened in 2016, and while the building faces foreclosure, the theater business inside may still have a chance to be saved, which is excellent news for customers like Julie Faber.
Faber lives next to the downtown luxury movie theater that also boasts a bar and a lounge.
“They make the whole experience really nice,” Faber said. “I saw it in the process of getting built. It was really exciting and I went there twice and saw a movie.”
However, it’s been a while since Faber has seen a movie at the theater. She says she rarely goes now.
“It’s not cheap. It is a little bit pricey,” said Faber.
Tickets can cost up to $18, and that’s before adding other items such as popcorn and alcohol.
“It’s just a big bill,” said Jesus Rocha.
“They serve you food and beverages while you’re watching the movie which is really neat,” Faber said.
The owner defaulted on a construction loan, which is why the building is up for foreclosure.
“That’ll be bad. I like being right here next to it. It’s a really nice experience. It’s good to have it right so close to me,” said Britton Norwood, neighbor.
There is an option out there that may keep the movie theater open: The owner wants to sell the three-story building and go from paying to own it to becoming a tenant with a landlord. Currently, the building is listed for $12 million.
“There’s a lot of people that go in there and watch movies,” Norwood said.
The listing agent says the theater remains profitable and adds that the owner is negotiating a few options. He’s hoping to get a deal closed before the foreclosure date.
Residents are hopeful as well.
“I think it’s a really good business to have there,” said Faber.
The listing broker says the owner wants to get out of real estate and focus on making this area an entertainment complex.