Defunct Theatre de la Jeune Lune sells building

The board of directors of Theatre de la Jeune Lune has signed a purchase agreement to sell its building at 101 N. 1st St. in Minneapolis.

Kelly Schaub, the theater's general manager, said the sale is due to close in early December. She identified the tentative buyer as Rea/Hall, a Minnesota LLC. Schaub declined to disclose the price, although she said it would cover the theater's accumulated debt of about $1.2 million. The board of directors will decide what to do with any surplus. The building was appraised at $3 million more than a year ago.

Jeune Lune announced in July that it would disband. It had been a critical piece of the Twin Cities theater community for 30 years, growing from the early efforts of Dominique Serrand, Vincent Gracieux and Barbra Berlovitz. Robert Rosen became the fourth member of the artistic collective, and actor Steven Epp was eventually named an artistic director.

The company won a Tony Award for outstanding regional theater three years ago.

While not saying much about the buyers of the building, Schaub said they made an offer that "came out of the blue and made us say 'yes.'"

She also did not disclose the intentions of the buyers. The residential market in downtown Minneapolis has shrunken dramatically in the past few years, and the 19th century warehouse, remodeled by Cass Gilbert in the early 20th century, is designated for historic preservation, which limits what modifications can be made.

In preparation to vacate the building, Jeune Lune will hold a rummage sale Nov. 15-16 to sell costumes, set pieces and other items accumulated since 1978. About 300 theater seats will be sold too.

GRAYDON ROYCE