Months after taking ownership of the historic Schine Theater in downtown Auburn, the city is officially putting the property up for sale.
The Real Estate Agency of Auburn, which holds a contract to list city-owned properties, will begin accepting offers Friday. Owner Matthew Chalanick says the property will be listed without an asking price, instead going through an open offer period through the end of September.
Interested buyers must submit a plan to restore the 1938 Art Deco theater and return it to use as a performing arts venue — a requirement Chalanick says will be central to the city’s selection process, along with proof of financing. Renovation costs are estimated between $6 and $12 million.
The 2,000-seat theater, listed on the National Register of Historic Places in 2000, has a current market value of $284,000, according to Cayuga County records.
