Post 21 August 2013
By NBC Chicago
The 2,500-seat landmark theater opened in 1927 and once hosted iconic acts in Chicago
Beyonce and Jay Z apparently have a new baby on the way after all.
Rumor has it the power couple purchased the iconic New Regal Theater in Chicago, according to entertainment news site Gumbumper.
Jet Magazine reports the South Side theater was purchased for $250,000.
The 2,500-seat landmark theater opened in 1927 on East 79th Street as the Avalon Theater and was closed in 2003 by its previous owners after seeing the theater lose money for years.
The New Regal once hosted the likes of Nat King Cole, Billie Holiday, Etta James and Miles Davis.
Gumbumper says the space could once again be used for entertainment.
It's not Jay Z's first visit to the South Side. On the "Watch The Throne" album with Kanye West -- who is from the South Side of Chicago -- Jay Z raps, "Made a right on 79th, I’m coming down South Shore Drive" on the song "Gotta Have It."
When the tour hit Chicago, Jay Z and Kanye created a stir during a surprise visit to the neighborhood, shooting footage that was used when the song was played at the concert.