The Pickwick Theatre has been in the Park Ridge community for decades, but it was set to close on January 15 if it didn't find new owners.
The iconic art deco theater, which is on the National Register of Historic Places, opened in the 1920s as a vaudeville theater in Park Ridge.
The current owners announced Tuesday they are finalizing an agreement with new owners. The final show under the current management is still January 15.
Then the plan is to have an interim operator re-open the theater that Friday, before the new owners take over on April 1.