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Post by seaturtle43 in hostile forum on Apr 29, 2015 21:01:55 GMT -6
*cue Kyle's entrance to the conversation
lol sorry, couldn't resist. Doesn't surprise me about the foreclosure though
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Post by OutlawwithaSnipeSniper on Apr 30, 2015 8:35:04 GMT -6
Foreclosure proceedings are under way against the shuttered Majestic Theater in Streator. The theater, at 121-25 N. Vermillion St., closed Aug. 25. The owner, Tim Burke of Los Angeles, then listed the property for sale at $267,000. According to court documents, Burke took a $229,000 mortgage with First Farmers Bank & Trust in April 2006 for the property, but has missed payments since August, owing about $130,000 with $21 interest accruing daily. The bank filed for foreclosure in February. If a judge orders foreclosure, the bank takes the property. The bank is also trying to foreclose on a theater owned by Burke, James Troccoli and Kathryn Troccoli in Charleston. Kathryn Troccoli also managed the Majestic Theater for Burke. Burke could not be reached for comment; Troccoli declined comment Wednesday. Last summer, Troccoli told The Times she made an offer to Burke to buy the building for what she believed it would be appraised for and he declined. Golly, so when Katy was "not making it" the Mortgage was being paid............ Slick businessman that Tim.
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Post by father of two on Apr 30, 2015 9:17:59 GMT -6
It's easier to take over an established business than to try to start a new one and build a customer base.
After having been closed for years many Streatorites found other alternatives for their entertainment dollars. Whether it was renting movies, pay per view at home, going out of town to a theater etc. Opening the Majestic was a risk from the start. Not being able to show first run movies when it opened didn't help. When it finally was allowed to show them people just didn't care as much or didn't want to spend $30-40 to take the family when they could wait a couple months and rent it or watch it on HBO or something like it.
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Post by dumdave on Apr 30, 2015 11:15:17 GMT -6
Still would like to know to took the digital progector set up that STREATORITES here and out of town PAID for. If this is not out and out theft, it is only one tippy toe away. Could that projector be showing movies at the Roxy? Hmmmmm.... I mean ..... Hmmmm.
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Post by capncrunch on Apr 30, 2015 11:29:40 GMT -6
I was wondering the same thing about the projectors.
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Post by dumdave on Apr 30, 2015 11:34:50 GMT -6
James Troccoli and Kathryn Troccoli might just be able to enlighten us. Just saying.
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Post by oldtimer on Apr 30, 2015 13:06:39 GMT -6
I agree with you FOT, but it really is unfortunate. The Majestic is a blast from the past. It has a little more Pizzaz than just a sterile multiplex small screen and no atmosphere modern cinema. Hopefully this will bring opportunity for a new buyer to come in and operate it. I certainly hope it is not the final curtain. It was not supported the way it needs to be to be profitable. there were nights we went and we were the only Souls in there, that was for an Eastwood movie on an opening Friday. But there were times we were there for a Midnight show and the place was JAMMED. I mean there was not hardly a seat available, it was awesome. A few nights like that will bring you into the Black. I think everyone involved deserves a big Thank You for TRYING.....Tim, Kyle, Kati....anyone involved...MnM's Dad. I would love to see it not only open but thriving, it really is a Community Asset, but the next chapter awaits to unfold. Who would want to buy it? The ticket prices couldn't have been any cheaper than the last time it was open and nobody supported it. If I was looking to invest around $300,000 for something it wouldn't be.for something that has failed more than once before. Its sad, but Streator just didn't support it.
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Post by Deleted on Apr 30, 2015 13:15:42 GMT -6
James Troccoli and Kathryn Troccoli might just be able to enlighten us. Just saying. I'm sure that they will not answer. And if they do, would it be the truth. My educated guess, is that Kate Troccoli made some money off of them.
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Post by no1inparticular on Apr 30, 2015 13:59:24 GMT -6
IMHO, "IF" someone were able to get their hands on the Digital Projectors that "We, the People..." donated $$$ for, the Theater could be a lucrative investment...The need for the Digital Projectors had everything to do with them not getting first run movies, at least that's what we were told... Summer is coming, folks like to go to the movies, and there are some good ones coming out... Why hasn't anything been done to recoup those projectors?...Wonder if any charges can be filed against whomever has them for duping the community, then running off with what isn't rightfully theirs?... The glorified pissing match between Burke and the Trocolli's should not be a reason to withold projectors that were largely paid for via donations...
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Post by no1inparticular on Apr 30, 2015 14:02:53 GMT -6
I agree with you FOT, but it really is unfortunate. The Majestic is a blast from the past. It has a little more Pizzaz than just a sterile multiplex small screen and no atmosphere modern cinema. Hopefully this will bring opportunity for a new buyer to come in and operate it. I certainly hope it is not the final curtain. It was not supported the way it needs to be to be profitable. there were nights we went and we were the only Souls in there, that was for an Eastwood movie on an opening Friday. But there were times we were there for a Midnight show and the place was JAMMED. I mean there was not hardly a seat available, it was awesome. A few nights like that will bring you into the Black. I think everyone involved deserves a big Thank You for TRYING.....Tim, Kyle, Kati....anyone involved...MnM's Dad. I would love to see it not only open but thriving, it really is a Community Asset, but the next chapter awaits to unfold. Who would want to buy it? The ticket prices couldn't have been any cheaper than the last time it was open and nobody supported it. If I was looking to invest around $300,000 for something it wouldn't be.for something that has failed more than once before. Its sad, but Streator just didn't support it. I don't think it had to do so much with lack of community support, we stepped up when it came time to go digital...It's obvious that it has everything to do with poor business decisions...If either Burke or the Troccoli's had any real business sense, it wouldn't have closed in the first place...
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Post by oldtimer on Apr 30, 2015 14:10:24 GMT -6
Who would want to buy it? The ticket prices couldn't have been any cheaper than the last time it was open and nobody supported it. If I was looking to invest around $300,000 for something it wouldn't be.for something that has failed more than once before. Its sad, but Streator just didn't support it. I don't think it had to do so much with lack of community support, we stepped up when it came time to go digital...It's obvious that it has everything to do with poor business decisions...If either Burke or the Troccoli's had any real business sense, it wouldn't have closed in the first place... I don't think you understand. You can have a brand new projector, but if no one pays to go see movies then it doesn't matter if you have a new projector. Another example: if I own an ice cream stand and buy a new ice cream make, that's not enough to keep my business open. I will need people to buy ice cream from me or I won't be able to stay open. Make sense?
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Post by dive61364 on Apr 30, 2015 15:09:34 GMT -6
the projector was probably sold long ago on eBay.
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Post by no1inparticular on Apr 30, 2015 15:57:57 GMT -6
I don't think it had to do so much with lack of community support, we stepped up when it came time to go digital...It's obvious that it has everything to do with poor business decisions...If either Burke or the Troccoli's had any real business sense, it wouldn't have closed in the first place... I don't think you understand. You can have a brand new projector, but if no one pays to go see movies then it doesn't matter if you have a new projector. Another example: if I own an ice cream stand and buy a new ice cream make, that's not enough to keep my business open. I will need people to buy ice cream from me or I won't be able to stay open. Make sense? Why do you feel the need to address people as though they don't understand something that they clearly get... The fine folks in Streator showed plenty of interest when they donated to purchase the digital projector...Interest in getting first run movies which they likely would have paid to see, or they wouldn't have donated in the first place... It wasn't their fault they got duped, and how many in town were/are upset at the loss of the theater?...I know that I would have continued to go see movies there, especially first runs...When you factor in the price of gas to go out of town to another theater, the difference in ticket prices/concessions are a moot point...
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Post by OutlawwithaSnipeSniper on Apr 30, 2015 17:15:16 GMT -6
American Sniper alone would have gone a long ways towards healing the finances, not to mention Furious 7........... I still find it "interesting" that as soon as the place was in a position to be successful, it was yanked away and shut down.
In typical fashion, we blame not the one who pulled the plug, but the one who was working trying to make it go.
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Post by oldtimer on Apr 30, 2015 17:43:51 GMT -6
I don't think you understand. You can have a brand new projector, but if no one pays to go see movies then it doesn't matter if you have a new projector. Another example: if I own an ice cream stand and buy a new ice cream make, that's not enough to keep my business open. I will need people to buy ice cream from me or I won't be able to stay open. Make sense? Why do you feel the need to address people as though they don't understand something that they clearly get... The fine folks in Streator showed plenty of interest when they donated to purchase the digital projector...Interest in getting first run movies which they likely would have paid to see, or they wouldn't have donated in the first place... It wasn't their fault they got duped, and how many in town were/are upset at the loss of the theater?...I know that I would have continued to go see movies there, especially first runs...When you factor in the price of gas to go out of town to another theater, the difference in ticket prices/concessions are a moot point... No, you don't get it! Not enough people went to see movies. You keep talking about giving the projector. While that was a nice jester, it certainly wasn't what was needed to keep the theatre open. Just having a new projector in the theatre doesn't pay the bills. People actually needed to buy tickets and go see movies. That didn't happen in large enough numbers so it closed. It's as simple as that, yet you keep talking about donating a projector! lol
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