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Terre Haute Businessman Buys Historic Indiana Theatre

By Associated Press

Posted August 14, 2021

City-of-Terre-Haute-sign.jpg

Gibson said he was concerned about possible intentions of the previous buyers.

A Terre Haute businessman who said he wants the Indiana Theatre in local hands has purchased the landmark that dates to the 1920s.

Greg Gibson, who has numerous business ventures downtown Terre Haute, bought the theater earlier this month for $212,599, the Tribune-Star reported. He also brought up to date the back property taxes on the theater through the purchase.

The 99-year-old building was purchased earlier this year by another group for $120,002 through a Vigo County tax certificate sale, county Auditor Jim Bramble said. By purchasing that county tax lien on the property, the buyers were required to give any parties with a financial interest in the theater a chance to buy it.

Gibson said he was concerned about possible intentions of the previous buyers. Although he doesn’t have immediate plans for he theater, Gibson said he hopes his purchase of the property ensures “progress” towards the city’s tourism initiatives.

The Indiana Theatre opened in 1922 and cost $1 million to construct. A restoration project in 2013 added to the 1,300-seat theater which serves as an events center for live entertainment, performing arts, cinema, weddings and community gatherings.

With Gibson’s purchase, the county repaid the prospective buyers their $120,002 and $6,305 in spring taxes they’d paid.

Gibson then paid $212,599 to redeem the tax certificate from the county. That purchase price covered $157,679 in back taxes left from the theater’s previous ownership.

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